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>> Twitter exciting Wall Street with the possibility of something it hasn't seen since the company went public four years ago, that it could actually turn a profit. Shares of Twitter popping nearly 12% on Thursday, after the company reported cost cuts and higher revenue than expected. And teased investors with sources of income beyond advertising, as rivals Google and Facebook have dominated the Internet ad business.
Reuter's tech editor Johnathan Weber.>> Twitter said there was significant cost cutting, year over year, expense is down about 16%, mostly headcount reductions. And that drove a big improvement in the bottom line. So even though revenues are actually declining slightly, but they said they expect, or hope, to be profitable for the first time ever in the next quarter.
>> The company has also announced plans to toughen its rules on online sexual harassment. Seeking to limit the number of bullies and abusers on the social network. Twitter also making policy changes to ads from some Russian-owned accounts.>> After they announced the earnings, they posted a blog post which said that they were banning all advertising by RT and Sputnik news, which are two Russian news outlets that are believed to be kind of promulgating the Kremlin view of the world.
And this comes in response to a lot of criticism about how these platforms were used during the election, and the lack of transparency around the advertising. There's legislation in Congress that would propose some rules around this. So this is a very hot issue, and Twitter is trying to get ahead of it with this ban.
>> Twitter said it will take the almost $2 million dollars it earned from RT and Sputnik ads, and will donate it to an external project to research malicious automation and misinformation on Twitter.