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Twitter warned of rising costs the following year and gave lukewarm revenue guidelines despite rising pandemic digital advertising spending.
The San Francisco-based social media company said revenue in its first quarter rose 28 percent year-on-year to $ 1.04 billion, slightly ahead of analysts ’expectations of $ 1.03 billion.
Shares of Twitter fell nearly 9% in overtime trading.
The company has recently renewed its offer to advertisers, amid broader growth in digital ad spending reported by major rivals Facebook and Google. However, Twitter said it expects revenue to be between $ 980 million and $ 1.08 billion in the second quarter of this year, at the bottom of the $ 1.05 billion consensus estimates.
He also said that total costs and expenses will increase by at least 25% from year to year in 2021, increasing over the year.
Twitter has been investing several times coming features following concerns about slow product innovation, trying to foster engagement beyond advertising and diversify sources of revenue.
“We expect total revenue to grow faster than spending by 2021, assuming the global pandemic continues to improve and we see little impact as a result of the changes associated with iOS 14.5.” Twitter he said, citing privacy changes coming to Apple on its iPhone operating system, which will make it harder to track ads.
“The faster it will depend on a number of factors, including our direct response roadmap and the execution of macroeconomic factors.”
Monetisable’s daily active users – the home metric that counts the number of users of the platform’s advertising show – rose 20 percent year-on-year to 199m, out of embarrassment expected by 200m analysts.
Net income rose to $ 61 million, compared to a net loss of $ 8 million in the same quarter last year.
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