TWITTER said Tuesday its user base jumped to 192 million in the quarter marked by US presidential election turmoil and a battle against misinformation.
Ranks of "monetizable" daily active Twitter users rose 27 percent from a year earlier during the fourth quarter, which ended just days before former president Donald Trump was booted from the service.
Chief executive Jack Dorsey said the San Francisco platform remained focused on "promoting healthier conversations for those who use our service."
Twitter and Facebook suspended Trump in early January over posts accused of inflaming violence in the US Capitol, as social media scrambled to respond to mayhem by supporters buying into his baseless attacks on the integrity of the election.
The unprecedented sanctions came after the president took to social media to repeat his numerous false claims about fraud and other impropriety in the election he lost to Joe Biden.
Twitter suspended Trump during a social media crackdown that came after Trump's supporters stormed the US Capitol in a deadly siege, interrupting congressional debate over Biden's election victory.
Twitter reported profit nearly doubled from a year earlier to $222 million on revenue that soared 28 percent to a record $1.29 billion.
"2020 was an extraordinary year for Twitter," Dorsey said.
"We are more proud than ever to serve the public conversation, especially in these unprecedented times."
The results sparked a modest uptick in shares of Twitter, which has been working to boost advertising as it seeks to broaden its base beyond its core audience of celebrities, journalists and politicians.
"Twitter caps off a turbulent 2020 with a strong performance," eMarketer analyst Nazmul Islam said of the quarterly results that beat market expectations.
Twitter might see user growth ebb in the current quarter due to "removal of accounts and defections from those who oppose account bans," Islam noted.
He expected spending by advertisers at Twitter to remain strong nonetheless.
- Apple bite? -
Twitter warned that ad revenue could take a hit from changes Apple is making to the iOS software powering its mobile devices.
A new Apple feature referred to as a "privacy nutrition label" tells users what tracking data is gathered by mobile apps and asks for consent via an onscreen prompt.
Tracking data is used to target advertising in ways that make it more likely to get clicks, making money for platforms in the process.
"Assuming the global pandemic continues to improve and that we see modest impact from the rollout of changes associated with iOS 14, we expect total revenue to grow faster than expenses in 2021," Twitter said.
Financial analysts were watching to see whether the absence of Trump's attention-grabbing behavior at Twitter will take a toll on the messaging platform's use or revenue.
"It looks like Twitter has a solid path of profitability, but they could take a hit this quarter due to Trump and a lot of Republicans being pulled off the platform," said analyst Rob Enderle of Enderle Group.
"I know the platform is a lot more pleasant now."
ETX Studio
Wed Feb 10 2021
Twitter reported profit nearly doubled from a year earlier to $222 million on revenue that soared 28 per cent to a record $1.29 billion. REUTERSpic
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.
Economic outlook: Budget 2025 to lay foundation for a digital-driven economy
The report said Budget 2025 will entail efforts to position Kuala Lumpur as a top 20 global startup hub by 2030 through the KL20 initiative.
Economic outlook: Corruption and lack of accountability hinder economic progress
Special Cabinet Committee on National governance is established to curb corruption, law reforms to modernise outdate regulations, MoF said.
National Wages Consultative Council will be strengthened
The govt will also incentivise hiring women returning from career breaks, offer job matching and improve care services facilities.
Economic outlook: Ensuring 11 years of compulsory education for all children
Budget 2025 will continue prioritising upskilling and retraining initiatives to equip workers with the latest skill sets necessary.
Consolidated public sector projected to record lower surplus of RM41.7 bil 2024
The MoF said the consolidated general government revenue is estimated to increase slightly to RM384.7 billion in 2024.
PM announces substantial Budget 2025 hastening Malaysia to become Asian economic powerhouse
Datuk Seri Anwar Ibrahim said it would create jobs and also tackle financial leakages to enhance public spending efficiency.