TWITTER WARNS OF SLOWING GROWTH
Twitter reported $1 billion in revenue for the first quarter of the year on Thursday, but the social media platform warned of user growth slowing the rest of the year after a “pandemic-related” surge.
Twitter’s quarterly earnings marked a 28 percent increase from the same period the previous year, the company said in its letter to shareholders.
The platform also reported a 20 percent increase in monetizable daily active usage.
“Looking ahead, the significant pandemic-related surge we saw last year creates challenging comps, and may lead to [monetizable daily active usage] growth rates in the low double digits on a year-over-year basis,” Twitter said in its earnings report.