Twitter Q3 2017: increase in users, slight drop in revenue

Twitter app on phone

Twitter has released its earnings report for the third quarter of 2017, revealing that four million new users have joined the platform. This brings Twitter’s overall user count to 330 million monthly users.

Twitter also announced that daily active users are up 14 percent year over year, although the company did not give a specific number.

However, Twitter reported revenue of $590 million USD, a four percent drop from the $616 million posted this time last year. That said, the company reported a net loss of $21 million this quarter, down from $103 million this time last year.

Going into the fourth quarter of 2017, Twitter says it expects to be profitable, which would be the first time since the company went public in November 2013. Company stock jumped nearly 12 percent following this announcement.

One of the most significant changes made to Twitter in the last quarter was in its character limit count. Certain users have been able to tweet using up to 280 characters — double the traditional 140 limit.

Twitter has also fully committed to live video streams to drive engagement through partnerships with the likes of the CFL for football coverage and Bell on a teen talk show.

“We’re proud that the improvements we’re making to the product continue to bring people back to Twitter on a daily basis,” said Twitter CEO Jack Dorsey in a statement. “It’s our job to help people stay informed about what’s happening in the world and what people are talking about, and we’re focused on making our service faster, easier to use, and more relevant to more people every day.”