Twitter says it could turn its first ever profit in the fourth quarter, after cutting expenses and finding sources of revenue beyond advertising. Angela Moore reports.
Twitter says it could turn its first ever profit in the fourth quarter. It's been cutting costs and finding revenue sources beyond advertising. The promise propelled Twitter stock in early trading on Thursday. Reporting results for the third quarter, Twitter beat on revenue. But the number came in lower than a year earlier. Plus, it was the third drop since Twitter debuted on Wall Street in 2013. And it raised concerns about future growth among some analysts. In terms of monthly active users, Twitter said it had 330 million of them, up four million from the previous quarter. In the United States, where growth had stalled earlier this year, that number rose by about a million. Unlike Facebook, Twitter does not disclose daily active users, but it said it was less than half the monthly figure. Twitter has stepped up its efforts to keep people hooked. It struck live-streaming deals for concerts, golf games and news programs. It also began testing tweets as long as 280 characters. And it announced plans to crack down on online sexual harassment.