Social media giant Twitter ended the first quarter with more daily active users, but said advertising revenue trends were impacted by the novel coronavirus pandemic starting in March. Details:
Social media giant Twitter on Thursday reported first-quarter earnings and revenues, underpinned by taking its number of monetizable daily active users to 166 million, against a year-earlier 134 million and 152 million mDAU for the fourth quarter of 2019.
The daily active user growth -- the main metric for the company in measuring audiences -- came during the coronavirus pandemic when Twitter users have been sheltering in their homes and engaging more with social media. The social media giant had on March 23, amid the coronavirus pandemic, withdrawn its earnings forecasts and warning it expected to post lower first-quarter revenue and an overall operating loss for the period. In that update, Twitter had also said that a jump in its base of active users as people sheltered in their home during the COVID-19 crisis was being offset by marketers cutting their advertising budgets.
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