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Current Pandemic Set to Hit Financial Performance in Q1 2020: Twitter

Twitter admits revenue and income to go down in Q1 2020

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Twitter
Twitter has said the current pandemic is set to hit financial performance in the first quarter of 2020. Pixabay

Twitter has said the current pandemic is set to hit financial performance in the first quarter of 2020 and the company has withdrawn its revenue and operating income guidance as well as its outlook for expenses.

The company expects Q1 revenue to be “down slightly” on a year-over-year basis. It had earlier provided Q1 guidance of revenue between $825 million and $885 million.

The micro-blogging platform, however, reported a gain of 12 million daily users as more people joined the platform during the COVID-19 crisis.

“Global conversation about COVID-19 as well as ongoing product improvements are driving strength in total monetizable DAU (mDAU), with quarter-to-date average total mDAU reaching approximately 164 million, up 23 per cent from 134 million in Q1 2019 and up 8 per cent from 152 million in Q4 2019,” Twitter said in a statement.

Twitter
Twitter reported a gain of 12 million daily users as more people joined the platform during the COVID-19 crisis. Pixabay

In the current quarter, “We’re seeing a meaningful increase in people using Twitter, and our teams are demonstrating incredible resilience adapting to this unprecedented environment,” said Twitter CEO Jack Dorsey.

“We’ll continue to navigate this environment focusing on supporting our employees, customers, and partners, while strengthening our service for everyone around the world and adjusting to a new operating and economic environment”.

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The company will provide an update on its Q1 2020 earnings call on April 30.

“Twitter had a strong start to the year before the effects of COVID-19 began spreading more broadly. The COVID-19 impact began in Asia, and as it unfolded into a global pandemic, it has impacted Twitter’s advertising revenue globally more significantly in the last few weeks,” said Ned Segal, Twitter’s Chief Financial Officer. (IANS)

Next Story

Can TB Vaccine Fight COVID-19? Here is the Answer

TB vaccine a potential new tool to fight COVID-19: Study

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vaccine
Researchers have found that Bacillus Calmette-Guerin (BCG), a vaccine for tuberculosis (TB), could be a potential new tool in the fight against the disease. Pixabay

Examining how the COVID-19 has impacted different countries, researchers have found that Bacillus Calmette-Guerin (BCG), a vaccine for tuberculosis (TB), could be a potential new tool in the fight against the disease.

The study that appeared in the pre-print repository medRxiv, proposed that national differences in COVID-19 impact could be partially explained by the different national policies respect to BCG childhood vaccination.

The BCG vaccine has existed for almost a century and is one of the most widely used of all current vaccines.

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BCG vaccine has a documented protective effect against meningitis and disseminated TB in children.

vaccine
The BCG vaccine has existed for almost a century and is one of the most widely used of all current vaccines. Pixabay

It has also been reported to offer broad protection to respiratory infections.

For the study, the researchers compared large number of countries BCG vaccination policies with the morbidity and mortality for COVID-19.

“We found that countries without universal policies of BCG vaccination (Italy, the Netherlands, the US) have been more severely affected compared to countries with universal and long-standing BCG policies,” said the study conducted by researchers from New York Institute of Technology (NYIT) College of Osteopathic Medicine in the US.

The number of confirmed coronavirus cases in the US has increased to 142,502, the highest in terms of infections globally, according to the latest tally from Johns Hopkins University’s Center for Systems Science and Engineering (CSSE).

The CSSE data showed that at least 34,026 people have died due to the disease in the country.

In Italy, which is one of the worst affected countries, 10,779 people have died due to COVID-19.

In this latest study on impact of BCG vaccination on COVID-19, researchers also found that countries that have a late start of universal BCG policy, for example, Iran had high mortality, consistent with the idea that BCG protects the vaccinated elderly population.

“There was a positive significant correlation between the year of the establishment of universal BCG vaccination and the mortality rate, consistent with the idea that the earlier that a policy was established, the larger fraction of the elderly population would be protected,” said the study.

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BCG vaccine has a documented protective effect against meningitis and disseminated TB in children. Pixabay

“For instance, Iran has a current universal BCG vaccination policy but it just started in 1984, and has an elevated mortality with 19.7 deaths per million inhabitants.

“In contrast, Japan started its universal BCG policy in 1947 and has around 100 times less deaths per million people, with 0.28 deaths. Brazil started universal vaccination in 1920 and also has an even lower mortality rate of 0.0573 deaths per million inhabitants,” the resulst showed.

Iran announced 2,901 new COVID-19 cases on Sunday as the total number of confirmed cases soared to 38,309. Also, the death toll from the disease reached 2,640 in Iran, while 12,391 patients have recovered.

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As the numbers of tuberculosis cases dropped in the late 20th century, several middle high and high-income countries in Europe dropped the universal BCG policy between years 1963 and 2010.

“The combination of reduced morbidity and mortality makes BCG vaccination a potential new tool in the fight against COVID-19,” the researchers concluded.

Also Read- Taking Care of Finances Amid Coronavirus Crisis

Gonzalo H. Otazu of NYIT is the corresponding author of the study.

The COVID-19 death toll in Europe climbed to over 21,000 out of more than 360,000 confirmed cases. (IANS)