Twitter announces first-ever profitable quarter

Twitter announces first-ever profitable quarter
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Twitter announced Thursday it made a net profit in the final quarter of 2017, marking the first time the social media giant has had a profitable quarter.

“Q4 was a strong finish to the year,” CEO Jack Dorsey said in a statement. “I’m proud of the steady progress we made in 2017, and confident in our path ahead.”

CNBC reported that the company’s shares jumped more than 20 percent following the report.


The company reported revenue of $732 million in the fourth quarter of 2017, a 2 percent increase compared to same quarter the previous year. 

For 2017 as a whole, Twitter had a total revenue of $2.4 billion, a 3 percent drop year-over-year. 

The company faced scrutiny from lawmakers in 2017. Congress questioned company representatives about how Russia used the social media platform to sow division and meddle in the 2016 presidential election.