Personal Tech

Jack in black: 12 years on, Twitter finally makes a profit from its firehose of memes and misery

139 months. How fitting for an originally 140-character blog biz

By Shaun Nichols in San Francisco

19 SHARE

After 11 years and seven months in operation, and billions and billions of dollars in losses, Twitter today said it is, at long last, a profitable business.

The shoutfest broker of memes, sarcasm, news, jokes, harassment, Russian trolls, and so so much wailing, declared it had, for the first time ever, managed to make money in a quarter. For the three months to December 31, 2017, we're told:

For the full year, Twitter was still a cash bonfire:

A big part of the rise to profitability was cost-cutting. Twitter, based in San Francisco, USA, told investors it has reduced expenses by 28 per cent from Q4 2016.

"We returned to revenue growth, achieved our goal of GAAP profitability, increased our shipping cadence, and reached five consecutive quarters of double digit [daily active user] growth," said CEO Jack Dorsey.

"I’m proud of the steady progress we made in 2017, and confident in our path ahead."

Investors were also impressed by the strong showing. By midday, Twitter shares were up 17.5 per cent at $31.68. ®

Sign up to our NewsletterGet IT in your inbox daily

19 Comments

More from The Register

From Russia with(out) Zuck: Popular Facebook boss gets another invite to turn down

Russian Federation Council says CEO must have 'ideas to share'

To Russia, with love: Greek court now says Bitcoin fraud suspect could be tried at home

US and Moscow both want to extradite Alexander Vinnik, 38, but minister of justice will decide

Russia, America dig into tug-of-war over Bitcoin laundering suspect

We want him! No, he's ours! Shut up!

Hawaii Live-Go! Microsoft launches Honolulu admin tool for cloud and on-prem

One tool to rule them all

Hawaii governor: I wanted to tell everyone nuke alert was fake – I just forgot my password

Dem to be granted access to Twitter profile ‘in an emergency’

Soyuz later! Russia may exit satellite launch biz

Is it worth competing with SpaceX prices?

Trump wants to work with Russia on infosec. Security experts: lol no

Thanks for Putin that out there

Facebook, Twitter slammed for deleting evidence of Russia's US election mischief

They have an honest explanation, of course

Facebook bans Russia's RT ahead of Trump's Inauguration Day (then changes its mind)

Breaking news, literally

Russia to Apple: Kill Telegram crypto-chat – or the App Store gets it

We know you’re busy, Mr Cook, but please reply before we become … unpleasant