BREAKING NEWS First case of UK COVID-19 variant found in Oregon Full Story

Twitter just had its first profitable quarter

Twitter is finally in the black.The company said Thursday it posted a modest $91 million profit in the final t...

Posted: Feb 8, 2018 11:18 AM
Updated: Feb 8, 2018 11:18 AM

Twitter is finally in the black.

The company said Thursday it posted a modest $91 million profit in the final three months of 2017, marking the first time the company has had a profitable quarter since going public in 2013.

Twitter says it expects to be profitable for all of 2018 as well.

It's a hard won milestone for Twitter. The company has gone through multiple rounds of layoffs since cofounder Jack Dorsey returned as CEO in 2015. And it has cut beloved but pricey projects like Vine, a video sharing service.

Twitter also received a boost from a surprise rebound in its advertising business. The company posted sales of $732 million for the quarter, up 2% from the same period a year earlier, reversing a sales decline that has plagued the company in recent quarters.

Related: Top Twitter executive departs, putting pressure on Jack Dorsey

In a letter to shareholders, Twitter chalked up the sales boost to "better-than-expected growth" in ad sales "across all major products and geographies."

The stock jumped 18% in pre-market trading Thursday following the earnings report.

While the sales rebound and profitability milestone offer hope that Twitter's turnaround efforts are bearing fruit, the social media company continues to face significant challenges.

Twitter's user growth remains stagnant. It had 330 million monthly active users for the quarter, effectively failing to grow its audience at all.

Last month, Twitter's COO Anthony Noto announced plans to leave the company to take over as CEO of a startup. Noto had previously served as Twitter's CFO and was arguably the most important executive at the company other than Dorsey.

Twitter has said Noto's responsibilities will be handled by various members of its leadership team. Dorsey continues to be a part-time CEO, running both Twitter and Square.

Oregon Coronavirus Cases

Data is updated nightly.

Cases: 130246

Reported Deaths: 1737
CountyCasesDeaths
Multnomah27890446
Washington18245166
Marion15878233
Clackamas11445134
Lane8042107
Jackson675782
Umatilla653065
Deschutes480532
Malheur311351
Yamhill309644
Linn304842
Polk236638
Klamath235230
Jefferson166125
Josephine164230
Benton164013
Douglas162943
Union108916
Wasco103723
Columbia100418
Lincoln96817
Hood River93121
Coos92314
Morrow9149
Clatsop6574
Crook5819
Baker5495
Tillamook3572
Curry3164
Lake2275
Grant1821
Harney1673
Wallowa923
Gilliam471
Sherman470
Wheeler191
Unassigned00
Eugene
Cloudy
49° wxIcon
Hi: 53° Lo: 45°
Feels Like: 44°
Corvallis
Cloudy
47° wxIcon
Hi: 51° Lo: 44°
Feels Like: 43°
Roseburg
Cloudy
51° wxIcon
Hi: 56° Lo: 42°
Feels Like: 51°
North Bend
Cloudy
46° wxIcon
Hi: 56° Lo: 46°
Feels Like: 46°
KEZI Radar
KEZI Temperatures
KEZI Planner

LATEST FORECAST

Community Events