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POST TIME: 10 February, 2018 00:00 00 AM
Twitter posts its Q1 profit as ad sales rise
BBC

Twitter posts its Q1 profit as ad sales rise

Twitter has reported its first quarterly net profit helped by a rise in video advertising sales, reports BBC. The news gave a massive boost to Twitter's shares which closed 12 per cent  up on the day. That was despite the number of people using the social network coming in below expectations. Twitter's previous failure to make a profit had confounded investors given its widespread use and popularity among celebrities and politicians. Net profit was $91.1m (£65m) in the fourth quarter of 2017, compared with a loss of $167.1m for the same period a year ago. Twitter, which has posted consistent losses since it became a public company in 2013, said it expected to be profitable for the full year of 2018 as well.