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Twitter sees record user growth, thanks to COVID-19

Twitter is reporting a record increase in its daily user figures as a consequence of the COVID-19 pandemic of 24 percent, up to 166 million. That’s a big jump on the 134 million it was counting at the start of 2019 and the 152 million monetizable daily users in the last quarter. But, Twitter says, that usage has now stabilized as “many people around the world settled into new routines.”

Unfortunately, Twitter’s profitability is mostly reliant on advertising, and what the pandemic giveth, it’s also taketh-ing away. Despite the spike in user growth, COVID-19 has forced many companies to tighten their belts, with Twitter’s revenue feeling the pain. Consequently, the company ate a (small) loss of $7 million, compared to the profit-bounty it saw in the same period last year.

Article source: https://www.engadget.com/twitter-q1-2020-112603005.html

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