(RTTNews) - Twitter Inc. (TWTR) said it now expects operating loss in the first-quarter, and quarterly revenue to be down slightly on a year-over-year basis, citing the impact of the COVID-19 pandemic.<\/p>\n
\"Twitter had a strong start to the year before the effects of COVID-19 began spreading more broadly...... it has impacted Twitter's advertising revenue globally more significantly in the last few weeks,\" said Ned Segal, Twitter's Chief Financial Officer.<\/p>\n
While announcing the fourth-quarter results, Twitter had expected operating income to be between break even and $30 million and total revenue of $825 million - $885 million for the first-quarter.<\/p>\n
The social media giant today said it withdrew its prior operating income and revenue guidance for the first quarter of 2020, due to the growing impact of the COVID-19 on the global operating and economic environment and their effect on advertiser demand.<\/p>\n
The company also withdrew its full year outlook for expenses, stock-based compensation, headcount, and capital expenditures.<\/p>\n
Twitter noted that in the first quarter, global conversation about COVID-19 as well as ongoing product improvements were driving strength in total monetizable daily active users (mDAU). The quarter-to-date average total mDAU reached about 164 million, up 23% from 134 million in the first-quarter of 2019 and up 8% from 152 million in the fourth-quarter of 2019.<\/p>\n
Twitter expects to release financial results for the first quarter on April 30, 2020. <\/p>\n
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.<\/p>\n
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Twitter Warns Of COVID-19 Impact On Q1 Results - Nasdaq<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" (RTTNews) - Twitter Inc. (TWTR) said it now expects operating loss in the first-quarter, and quarterly revenue to be down slightly on a year-over-year basis, citing the impact of the COVID-19 pandemic. Continue reading