Twitter has hit $1 billion in quarterly revenues for the first time in its history, as the company boasted improved advertising income and sizable increase in active users.
The social networking giant announced its Q4 2019 financial and user metrics this morning, revealing revenues of $1.01 billion — a year-on-year (YoY) increase of 11% on the record $909 million reported last year, and a quarter-on-quarter (QoQ) rise of around 22% compared to Q3 2019.
As per usual, the bulk of Twitter’s income emanates from advertising, which constituted $885 million, or 88%, of its revenue during the last quarter. This was an annual increase of 12%, with Twitter noting that its domestic U.S. market underpinned much of this uptick.
“We reached a new milestone in Q4 with quarterly revenue in excess of $1 billion, reflecting steady progress on revenue product and solid performance across most major geographies, with particular strength in U.S. advertising,” noted Twitter CFO Ned Segal.
Twitter beat analyst estimates on both revenue and users — it hit 152 million monetizable daily active users (mDAU) during the last quarter, up 21% on the 126 million reported last year and 5% on the previous quarter.