Twitter on Wednesday reported its second profitable quarter in a row as its first-quarter 2018 earnings beat Wall Street expectations.
Revenue hit $US665 million (£477 million) in the first three months of 2018, a 21% increase on the same period last year. Monthly active users averaged 336 million for the quarter, an increase of 3% year-over-year.
The company’s net income was $US61 million, marking its second month of profitability. It is a turnaround from the loss of $US62 million in the first three months of 2017.
To read more about Twitter’s first quarter 2018 earnings,click here.
In other news:
NBC owner Comcast gate-crashes Fox’s takeover of Sky with a £22 billion bid.Comcast has officially made a £22 billion ($US30.7 billion) bid for Britain’s Sky, which 21st Century Fox (that owns 40% of Sky) has been trying to buy the remaining stake in since the end of 2016.
Big ad agencies are trying to cut out ad-tech middlemen – and justify their own existence. Ad-buying agencies are exploring direct programmatic ad deals with top publishers.
Bloomberg is planning to make readers pay up to read its digital content. It is planning to start charging readers to access stories on Bloomberg.com, potentially starting next month, according to people familiar with the matter.
Netflix is making a new show that follows around BuzzFeed reporters in 15-minute episodes. The series, “Follow This,” premieres July 9 on the streaming service.
Google’s stock clobbering shows just how freaked out Wall Street is about the online ad business right now.Google shares finished down for the second day in a row following mixed earnings.
Facebook will no longer let apps post automatically to your profile following an API change. The change goes into immediate effect for new apps, while existing apps will retain their posting permissions until August 1st of this year.
Business Insider Emails & Alerts
Site highlights each day to your inbox.