Twitter’s financial results for the fiscal fourth quarter of 2018 revealed that the social media giant lost 9 million users on a year-to-year basis from Q4 of 2017. Monthly active users fell from 330 million a year earlier to 321 million.
The number fell by 5 million from the third quarter of 2018, when the count stood at 326 million.
“The social media company said that it will no longer break out monthly active users after the first quarter of 2019. The metric had been a key measure of the platform’s user engagement,” Yahoo Finance reports. “Instead, Twitter said it will report monetizable daily active users to show the size of its audience and engagement going forward.”
Nonetheless, much of the report was upbeat.
“The San Francisco, California-based social media company posted fourth-quarter revenue of $908.8 million, ahead of consensus estimates of $867.1 million, according to Bloomberg data. Earnings, excluding some items, were 31 cents per share, exceeding consensus estimates of 25 cents per share,” Yahoo reports.
The report adds: “The social media company said it expects to see revenue of between $715 million and $775 million in the fiscal first quarter of 2019, with the midpoint of that range coming below the average analyst estimate of $766.1 million. The company expects its GAAP and cash operating expenses will be up about 20% in 2019 ‘as we support our existing priorities of health, conversation, revenue product and sales, and platform,’ Twitter said.”