(FinancialPress) — 12 years, 4 of those as a public company, is what it took for Twitter (TWTR) to finally post profit at the end of a fiscal quarter. The company revealed yesterday that it made $91 million in the last quarter of 2017. In contrast, during the same period in 2016, it had lost $167 million.
Late last year, its investors were notified of that the company was inching close to its first profitable quarter – largely thanks to its cost-cutting regime.
Adding to Twitter‘s celebration, the company also revealed that its revenue stopped a negative trend it had been experiencing through 2017 – growing 2% to reach $732 million. In 2016, revenue closed off at $717 million. Revenue had suffered for the first three quarters of last year, continually dropping by 4 to 8%. While it‘s not completely clear what it was that led to this change, one could point to the fact that advertisers were satisfied with the social platform‘s more serious angle in management of the harassment issues it had been experiencing throughout the year – thus finding themselves encouraged to invest in it once more.
“This quarter was a major step in the right direction that shows the monetization and ad growth machine at Twitter is finally heading in the right direction after years of a ‘one step forward two steps back’ strategy,” GBH Insights analyst Daniel Ives wrote. “Overall, 4Q was a breath of fresh air for investors that have patiently awaited for this turnaround story to manifest after years of pain and it looks like the Twitter growth train is back on track.”