// IP Marketing video - START// IP Marketing video - END

Twitter makes profit for first time since launching 12 years ago

Twitter makes profit for first time since launching 12 years ago

PanARMENIAN.Net - Twitter finally made a profit for the first time since launching in March 2006. The social network announced that its profit in the last quarter of 2017 was $91 million against a revenue of $731 million. This is also the first time that Twitter has reported revenue growth in the past four quarters, BuzzFeed News reports.

While Twitter grew over the year, it didn’t add any new users since the previous quarter.

The company said that it has 330 million users — 68 million in the United States and 262 million internationally, up 2% and 4%, respectively, year on year. The company attributed the lack of quarterly user growth during to its clamp down on fake accounts. As a point of comparison, in the last quarter of 2016, Twitter added 1 million users.

Twitter spent the second half of 2017 explaining how Russian accounts and bots used its service to influence the 2016 US presidential election. And earlier this year, it had a high-profile executive departure after COO Anthony Noto, the most powerful executive in the company besides CEO Jack Dorsey, stepped down to head San Francisco-based finance company SoFi.

 Top stories
Sophia the Robot has shared a picture with Armenian Prime Minister Nikol Pashinyan and his wife Anna Hakobyan on her Twitter.
Teamable has brought in $5 million from new investor Foundation Capital and existing backers True Ventures and SaaStr Fund.
According to the Deputy Minister, the agreement was reached during a recent visit by Deputy Prime Minister Tigran Avinyan to Los Angeles.
Apple announced iPhone Xs and iPhone Xs Max, which will be available in Armenia beginning September 28.
Partner news