April 29, 2014 4:19pm
Twitter has just announced its Q1 2014 results and the company declared revenues of $250 million (USD) and mobile advertising represented about 80% of total advertising revenue. Missing from the report was a country breakdown — Twitter Canada opened up its doors last year and has signed on several key Canadian advertisers, namely Shaw, Bell and McDonald’s.
As of March 31st, the public company reached a milestone of 255 million active users, which is an increase of 25% over last year. Mobile seems to be where Twitter is most popular as 198 million of its users now access the service from their smartphone or tablet, up 31% from last year.
Dick Costolo, CEO of Twitter, said, “We had a very strong first quarter. Revenue growth accelerated on a year over year basis fueled by increased engagement and user growth. We also continue to rapidly increase our reach and scale. With the integration of MoPub, we now reach more than 1 billion iOS and Android users each month, making us one of the largest in-app mobile ad exchanges in the world and the only one at scale to offer native in-app advertising.”
The forward looking statement revealed that Twitter is estimating to end the year with revenues “in the range of $1,200 million to $1,250 million.”