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Twitter nears 1st profitable quarter as it slashes expenses and users grow

Twitter has never had a profitable quarter based on GAAP

Reuters 

Twitter Inc said on Thursday it could turn its first ever profit in the fourth quarter, after making sweeping cuts in expenses the past few months and finding sources of revenue beyond the advertising that dominates social media. Shares of the company jumped nearly 8 per cent to $18.50 in premarket trading. Twitter has never had a profitable quarter based on generally accepted accounting principles (GAAP), but it said on Thursday "we will likely be GAAP profitable" in the fourth quarter if it reaches the high end of its own estimates. Twitter reported third-quarter ...

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First Published: Thu, October 26 2017. 18:19 IST
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