Twitter’s ‘extraordinary year’ sees reward revenues


Twitter has posted record revenues for the last quarter of 2020, capping off what its chief executive said was “an extraordinary year” for the platform.

The social messaging platform said revenue grew 28% to $1.29bn compared to the last quarter of 2019.

In January, Twitter banned Donald Trump from the platform which analysts felt could have an impact this quarter.

“We’re a platform that is obviously much larger than any one topic or any one account,” said boss Jack Dorsey.

The platform’s fourth-quarter results beat analysts’ expectations for earnings and revenue, but failed to meet them for user growth.

On January 8, Twitter decided to permanently suspend the account of former President Donald Trump after the riots in Washington DC.

Removing the avid Twitter user has prompted fears that it could affect the platform’s popularity for the current quarter.

In response, Twitter chief executive Jack Dorsey said users are able to follow more than 6,000 different topics, explaining that those topics drive growth.

Dorsey added that 80% of Twitter’s audience is outside the US.

“We have a global service. We are also not just dependent upon just news and politics being what drives Twitter,” said Dorsey.

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