>> It's the thing long-suffering Twitter investers have wanted most, and on Thursday, they finally got it. The social media company posted its first quarterly profit ever, earning $91 million. Twitter shares surging as much as 25% immediately after the report. I'm Conway Gittens in New York. So how did Twitter finally turn a profit?
Revenues, sales were up for the first time in a year. Twitter finally making money by convincing users to click on ads, video ads also boosted sales. International markets, did the heavy lifting, sales outside of the U.S. rising by double digits, led by Japan. The profit and sales numbers were so strong that investors were willing to ignore the fact Twitter saw flat subscriber growth last quarter, compared to the three months prior.
Twitter blamed that on its' efforts to purge fake accounts. Like Google and Facebook, Twitter has been under fire in Europe and the United States, over allowing cyber bullying on its' platform, and for Russia's attempts to sway elections. While trying to address critics, CEO Jack Dorsey is also trying to boost user growth.
He's doubled the number of characters allowed in each tweet in most languages. And has made an effort to limit harassment on the site. And he's making live news and entertainment shows part of the platform. Twitter's popularity with celebrities, sport stars, and even the President of the United States, leading to a lot of data collection.
It was also able to use that to translate into cash money. Non advertising revenue was up 10%. Twitter telling investors Thursday, it's now on the road to its first profitable year, ever.