As the old saying goes: It doesn’t matter how you get there as long as you get there. Revenue from outside the US rose 17 percent, making up for an 8 percent decline in domestic revenue. Twitter said revenue was helped by the company’s use of data to make the targeting of ads more individualized. Twitter reported a net profit of $91.1 million, or 12 cents per share, compared with a loss of $167.1 million, or 23 cents, a year earlier. Twitter, which has doubled the number of characters allowed per tweet and made other changes to attract new users, said the number of daily active users increased 12 percent. It didn’t, however, add any net new users in the past quarter, keeping steady at its monthly user count of 330 million. James Cakmak, an analyst for Monness, Crespi, Hardt & Co., told The Post that the company’s first profit is an effectively meaningless milestone. “It’s in a situation where the turnaround is not broad-based by any means. It’s a function of one market [Japan] overseas.” Cakmak added that Twitter’s announcement that it would not be replacing the recently departed chief operating officer, Anthony Noto — who was long considered to be the brainchild behind the microblogging site’s positive growth — is a red flag. “Now Twitter is in a situation where there will be growing responsibility for Jack Dorsey on a day-to-day basis while his focus remains diluted between two companies,” Cakmak said.
As the old saying goes: It doesn’t matter how you get there as long as you get there.
Twitter was living proof on Thursday, posting the first-ever profit in its 12-year history — albeit one that was a result of Chief Executive Jack Dorsey swinging the cost-cutting ax and not from business actually growing.
Nonetheless, investors cheered the green shoots — sending Twitter shares up 12 percent, to a more than two-year high, at $30.18.
The social network surprised Wall Street by reporting $731.6 million in revenue, handily beating analyst estimates of $686.4 million and squashing predictions that called for a fourth consecutive quarter of revenue decline.
The popular Web site — a favorite of celebrities, athletes and President Trump — had long confounded investors with its inability to turn a profit or log consistent growth.
Revenue from outside the US rose 17 percent, making up for an 8 percent decline in domestic revenue.
Revenue from Japan…