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

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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. ®

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