Twitter reported a net profit of $68 million in the first quarter, compared with a loss of $8.3m during the same period a year ago, as the company saw an rise in the number of monetisable daily active users (MDAUs).
The San Francisco-based microblogging site's total revenue surged 28 per cent on an annualised basis to $1.04 billion, exceeding the analysts' average estimate of $1.03bn.
The advertising sales for the first quarter surged 32 per cent from the same period a year ago to $899m.
“People turn to Twitter to see and talk about what’s happening and we are helping them find their interests more quickly while making it easier to follow and participate in conversations,” said Jack Dorsey, Twitter’s chief executive.
The average mDAUs – the term for users who can view ads – reached 199 million, an almost 20 per cent annual rise from the first quarter a year earlier.
But it was almost 1 million less than the forecast by FactSet.
Users growth was driven by “ongoing product improvements and global conversation around current events”, Mr Dorsey said.
Twitter’s stock was more than 11 per cent down in after-hours trading as the company missed user-growth expectations and offered lower revenue guidance.
In its guidance for the current quarter ending on June 30, Twitter expects to earn revenue between $980m and $1.08bn. Analysts were expecting $1.06bn on average, according to Refinitiv.
The company predicts capital expenditure in the range of $900m to $950m in the 2021 financial year.
“Q1 was a solid start to 2021 … reflecting accelerating year-over-year growth in MAP [mobile app promotion] revenue and brand advertising that improved throughout the quarter,” said Ned Segal, Twitter’s chief financial officer.
“Advertisers continue to benefit from updated ad formats, improved measurement and new brand safety controls."
The company invested more than $250.7m on research and development during the quarter, more than $50m above that in the same period last year.
Most of the R&D allocation was spent on engineering, product optimisation, design and research, the company said.
“We are attracting more great people to Twitter than ever before and investing in our highest priorities to deliver on our long-term goals across consumer product, revenue product and platform,” Twitter said in a note to its shareholders.
T10 Cricket League
Sharjah Cricket Stadium
December 14- 17
6pm, Opening ceremony, followed by:
Bengal Tigers v Kerala Kings
Maratha Arabians v Pakhtoons
Tickets available online at q-tickets.com/t10
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
Temple numbers
Expected completion: 2022
Height: 24 meters
Ground floor banquet hall: 370 square metres to accommodate about 750 people
Ground floor multipurpose hall: 92 square metres for up to 200 people
First floor main Prayer Hall: 465 square metres to hold 1,500 people at a time
First floor terrace areas: 2,30 square metres
Temple will be spread over 6,900 square metres
Structure includes two basements, ground and first floor
UAE currency: the story behind the money in your pockets
Mohammed bin Zayed Majlis
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The years Ramadan fell in May
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
More on Quran memorisation:
Zakat definitions
Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.
Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.
Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.
Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.
UAE currency: the story behind the money in your pockets
More on Quran memorisation:
More from Neighbourhood Watch:
The BIO
Favourite piece of music: Verdi’s Requiem. It’s awe-inspiring.
Biggest inspiration: My father, as I grew up in a house where music was constantly played on a wind-up gramophone. I had amazing music teachers in primary and secondary school who inspired me to take my music further. They encouraged me to take up music as a profession and I follow in their footsteps, encouraging others to do the same.
Favourite book: Ian McEwan’s Atonement – the ending alone knocked me for six.
Favourite holiday destination: Italy - music and opera is so much part of the life there. I love it.
Mohammed bin Zayed Majlis
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
