It only took 12 years, but Twitter finally is able to report they have turned a profit for the first time ever in its history.
The news sent the price of Twitter shares surging 26% in pre-market trading in NY.
That was despite the number of people using the social network coming in below expectations.
The social media giant posted a profit of $91m in the fourth quarter of 2017, recovering from a $167m loss a year earlier, after cutting costs.
Twitter's previous failure to make a profit had confounded investors given its widespread use and popularity among celebrities and politicians.
In a letter addressed to shareholders, Twitter said revenue growth was driven by strong engagement growth, improved revenue features, improved ROI and better sales execution.
In October a year ago, Twitter had suggested a profit was likely as it sought to cut costs, but both profit and revenue outstripped investors' expectations. Q4 revenue was $732 million which was an increase of 2% year on year, of which advertising is still the biggest money maker ($644 million).
Reportedly as of right now, Twitter has 330 million users, which is about the same number they reported in the previous quarter.
The firm's shares were trading around $32 per share in mid-morning trade.
119 cases settled at National Lok Adalat
OSLSA officials said a total compensation, including motor accident claims, insurance and so on of Rs 43 crore was awarded. The panels have statutory status under the Legal Services Authorities Act, 1987.
BidaskClub Upgrades Martin Midstream Partners (MMLP) to Hold
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