Thursday, November 26, 2020
Home Lead Story Current Pandemic Set to Hit Financial Performance in Q1 2020: Twitter

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

Twitter admits revenue and income to go down in Q1 2020

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has said the current pandemic is set to hit financial performance in the first quarter of 2020 and the company has withdrawn its revenue and operating income guidance as well as its outlook for expenses.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

Also Read- Every Second Car to Be Electric by 2050: Experts

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)



Most Popular

26 November: The Foundation Day Of Aam Aadmi Party = Black Day For Indian Politics

By Shweta Porwal On the Occasion of 26 November the Foundation Day of Aam Aadmi Party, Dr. Munish Raizada a former Co-Converner of NRI cell...

Identifying Mosquitoes Through App By Buzzing Sound

The high-pitched whine of a mosquito is annoying, but scientists have developed an app that uses that sound to detect dangerous mosquitoes. Mosquitoes kill hundreds...

Solomon Islands To Ban Facebook For National Unity

The government of the Solomon Islands has defended its plans to ban Facebook, insisting the move would preserve “national unity.” Ministers say the world's...

Gut Hormone Regulating Fat is Abnormal in Obesity

One key gut hormone released a few hours after eating, turns off fat production by regulating gene expression in the liver and this regulation...

50% Male Employees Agree Bias Against Women in Workplace

More than 50 percent of the men feel that there is an increased bias against women at the workplace, said a new survey. According to...

Here Are 10 Ways To Improve Self-Awareness Levels

Emotional intelligence tends to fuel one's performance on the personal front as well as professionally. Right from your self-assurance, empathy, and positivity to your...

Cooking With Biomass Fuels Damages Lungs

People who cook with biomass fuels like wood are at risk of suffering considerable damage to their lungs from breathing in dangerous concentrations of...

Pregnancy Stress Affects Infant’s Brain Development

Researchers have revealed that infants' brains may be shaped by levels of stress their mothers experience during pregnancy. The study, published in the journal eLife,...

Recent Comments