Despite reporting lower-than-expected fourth-quarter earnings, on Wednesday, Twitter was still happy to celebrate its strong user growth over the past year.
“2019 was a great year for Twitter,” CEO Jack Dorsey insisted in an earnings statement.
During the quarter ended December 31, Twitter said average monetizable daily active users reached 152 million, which was up 21%, year-over-year. He attributed much of that growth to product improvements designed to “increase relevance and ease of use” for users.
During the period, Twitter racked up about $1.01 billion in revenue, which was up 11%, year-over-year. Stateside, revenue rose to $591 million, which was up 17%, year-over-year.
Looking ahead, analysts expect Twitter to see strong, sustained user growth. That includes Deutsche Bank analyst Lloyd Walmsley, who told investors to expect impressive growth from Twitter throughout 2020.
Although mixed, this latest earnings report represents something of a turnaround for Twitter.
Due to a combination of ad product issues and industry headwinds, the company reported less-than-stellar third-quarter earnings.
“More work remains to deliver improved revenue products,” Ned Segal, Twitter’s CFO acknowledged at the time.
Among other efforts to clean up its platform, Twitter committed to deactivating dormant accounts, late last year. In part, the change was designed to encourage more users to actively log on and use the platform when they register an account, Twitter said.