Twitter clocks first $1 billion quarterly revenue, beats estimate;shares snowball 16%


by   |  VIEW 213
Twitter clocks first $1 billion quarterly revenue, beats estimate;shares snowball 16%

On Thursday, the 6th of February 2020, Twitter Inc., the San Francisco, CA-based microblogging and social networking service provider had revealed its Q4, 2019, quarterly earnings’ report that unveiled a total of $1 billion in quarterly revenue for the first time on record, beating analysts’ estimate and eventually skied its shares’ prices up by as much as 16 per cent on Thursday’s (February 6th) after-market trading.

In point of fact, the US-based multinational micro-blogging site had generated most of its revenues in the United States that surprise many analysts and economists, since the company had faced off a flurry of criticisms this year in the United States over its handling of misinformation, both political and non-political, ahead of 2020 US Presidential election in November.

Besides, according to Twitter Inc.’s earnings’ report for the quarter that ended on December 31st, the social networking tycoon posted an 11 per cent growth in revenues to $1.01 billion compared to the same time a year earlier, while the company had also posted a 12 per cent rise in advertising revenues.

Concomitantly, following reveal of its better-than-anticipated quarterly revenue, Twitter Inc. shares’ prices rose as much as 16.15 per cent to $38.76 per share on Thursday’s (February 6th) after-market trading as beforementioned, however during preparation of this report, morning US trading hours on Friday (February 7th), NYSE-listed shares’ prices of Twitter Inc. were trading 3.64 per cent lower to $37.01 per share following a wave of profit-taking from the short-sellers.