Twitter shares quarterly profit for the first time

Despite Twitter being around for more than 12 years’ the firm has revealed its¬†quarterly profit for the first time, although its lost users in the US because of “clamping down” on fake accounts.

The American company revealed it lost US$167million by cutting costs in 2016, but made a profit of US$91million in the fourth quarter of 2017.

In a letter to shareholders, Twitter said it had “stepped up efforts to reduce spam, automated accounts known as bots and fake accounts”.

However, the site has been struggling to increase the number of its users, especially US citizens, even with Donald Trump being an active member.

Written by Leah Alger