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Twitter's 1st profit sends shares soaring but user growth misses estimates

The company said it expects "to be GAAP profitable for the full year 2018," referring to generally accepted accounting principles


Twitter Inc reported its first quarterly net profit and topped Wall Street targets on Thursday as video ad sales rose, while a clampdown on fake accounts brought the number of people using the social network in below expectations. Shares of the microblogging service rose about 25 per cent in pre-market trading after an initial dip. Twitter's previous inability to turn a profit had confounded investors given the company's ubiquitous presence in the media and popularity among celebrities, athletes and politicians such as US President Donald Trump. Twitter in October had ...

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First Published: Fri, February 09 2018. 00:28 IST