Twitter’s share price started to rise moderately after the announcement of the result.
Twitter grew its user base in the fourth quarter of 2020 by 27 percent over the same period last year. There were 192 million users at the end of the year.
The result for the quarter was $ 222 million, or about $ 183 million. The growth of the social media platform favored by former U.S. President Donald Trump coincided with the culmination and aftermath of the fierce U.S. presidential election.
Trump received a permanent gate ban on Twitter earlier this year. The reason for the ban was an Epiphany riot in which Trump supporters attacked the Capitol building of Congress. The president is accused of inciting a riot in the Senate’s indictment.
In conjunction with the announcement of the quarterly results, CEO Jack Dorsey said Twitter aims to support a “healthier” debate among users.
- 2020 was an exceptional year for Twitter. We are more than proud to serve public debate, especially in such unparalleled times, Dorsey said.
Dorsey underestimated the potential impact of the closure of Twitter accounts on the company’s results in the future.
- Twitter is a platform that is clearly much larger than a particular topic of conversation or an individual user’s account. Eighty percent of our user base is from outside the United States, Dorsey notes.
In the market, Twitter’s share price started to rise moderately after the announcement of the result.