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Twitter is tanking.
According to Twitter itself, they lost $1.14 Billion in 2020.
American social-networking company Twitter announced on Wednesday its financial results for the fiscal year 2020, saying it recorded a net loss of $1.136 billion against net income a year earlier.
According to the company, “2020 net loss was $1.14 billion, representing a net margin of -31 percent and diluted EPS [earnings per share – Ed.] of -$1.44. This compares to 2019 net income of $1.47 billion, representing a net margin of 42 percent and diluted EPS of $1.87.” Both periods were affected by non-cash, tax related adjustments, it said.Costs and expenses totaled $3.69 billion, an increase of 19 percent year over year, while revenue amounted to $3.72 billion.
Twitter said that for the first quarter of 2021 it expects total revenue to be between $940 million and $1.04 billion. “As we enter 2021, our objectives are similar to previous years and our success will best be measured by our ability to grow our audience and deliver financial results in line with our guidance,” it said.
Twitter will continue to spin this.
They will never admit that censorship hurts them.
We also have to keep in mind that the Conservative Exodus from Twitter is just beginning. Once that is complete Twitter will lose even more money.
It is important to point out that they did do fairly well in the fourth quarter of 2020.
Shares of Twitter climbed more than 7% Wednesday after the company reported a record $1.29 billion in revenue during the fourth quarter of 2020, despite finding itself at the center of political turmoil in recent months.
Is Twitter in trouble?
The Palmieri Report is a Pro-America News Outlet founded by Jacob Palmieri four years ago at the age of 19. Since its founding, it has gotten over 2M pages views and over 20k followers. The Palmieri Report is dedicated to giving people the truth so that they can form their own informed political opinions.
