The number of active users of Twitter daily has now reached 166 million, an increase of 24% from 134 million in 2019.
This data was revealed by Twitter CEO Jack Dorsey in a conference call with his investors. Dorsey said many people use Twitter to get the latest information.
“For the first time in history, the whole world has focused on finding ways to solve one global problem. Many people turn to Twitter to get new information, share solutions and to ask for help and support from others,” Dorsey said.
But when it comes to Twitter’s financial condition, Dorsey’s data is not very pleasant for investors. In Q1 2020, Twitter revenue was USD 808 million, only increasing 3% year on year.
Although increasing, but the majority of revenue came from advertising revenue, and here is the problem. In recent times, the amount of advertising expenditure has plummeted, especially since last March.
Google and Facebook, and almost all companies that depend on revenue from advertising, will certainly feel the same way. Google has even begun to tighten belts to face the decline in revenue in the future.
While specifically Twitter, revenue from advertising decreased 27% year on year in three weeks from 11 to 31 March. Fortunately, Twitter can reduce its operating losses for three weeks by USD 7 million.
