Twitter has announced its first quartely earnings report for the year 2017 and it has some positives and still shows some problems the company is grappling with.
Starting first with the positives, Twitter’s Q1 2017 revenue was $548 million which was a decrease of 8% YoY but it was better than the estimated $511.9 million that was expected for this quarter.
They also registered an increase in monthly active users from the previous quarter, where they gained 9 million new monthly active users for a grand total of 328 million. Out of the total, the average international monthly active users was 259 million and average for the US audience is 70 million. The number for the daily active users also grew 14% year on year, but they didn’t post the exact number for this metric.
Although the company posted better than expected revenues for this quarter, they are still not turning in a profit as they posted a net loss of $62 million, which fortunately was less than the $80 million loss the company posted on Q1 2016.
Twitter also took the chance to reveal interesting stats about the quarter. Livestreaming has become a strong focus for the company and they apparently signed several deals with different publishers during in the quarter.
They also revealed that they streamed more than 800 hours of “premium live video” of which 51% were sport related, 35% were news and politics and 14% were entertainment.
Thanks to the news of better than expected earnings for Twitter, it has led Twitter’s shares to surge more than 10% after the report was released.