Social media platform Twitter has seen a positive rise in financial figures, despite the high costs of trying to eliminate the site of abusive posts and fake accounts.
Twitter’s shares have jumped strongly after the platform reported stronger user growth and progress in its efforts to restrain harmful posts.
Twitter have been spending a lot on improving user experience, and have beat expectations with a 17% rise in revenue to $787 million in the first quarter of the year in comparison with the same dates back in 2018. Shares then rose a further 16% following the quarterly update.
Twitter said that advertising sales accounted for the amount of revenue increase, with video advertisements making a significant contribution. Analysts focused on its user numbers through predictions, although in some quarters, it was thought that the weak performances during 2018 would continue, but those predictions were wrong.
Twitter only started to publicly reveal its figures at the end of last year. It then said it’s “monetisable” daily active users, which measures users exposed to advertising daily, rose to 134 million in three months. That represented a 12% increase.
The company also said it remained profitable, with earnings growing over 200% to 191 million in the period assisted by tax benefit, despite operating expenses hitting $693 million.
Twitter blamed its clampdown on abusive behaviour from users, which has seen it hiring more staff. Twitter’s chief executive Jack Dorsey said: “We are reducing the burden on victims and, where possible, taking action before abuse is reported.
“For example, we are now removing 2.5 times more Tweets that share personal information and 38% of abusive Tweets that are taken down every week are being proactively detected by machine learning models.
“We’re also continuing our work to make Twitter more conversational via the launch of our public prototype app (twtter), with the end goal of making conversation on Twitter feel faster, more fluid, and more fun.”
Also, last week at the TED conference, Mr. Jack Dorsey said the firm are considering demoting likes and follows, adding that in hindsight, he wouldn’t have designed the platform to highlight these.
“We’ve seen harassment, manipulation, misinformation which are dynamics we did not expect 13 years ago when we founded the company,” he told TED curator Chris Anderson.
But given the sharp rise in Twitter’s shares, will this still be something to consider? But demoting likes and follows really feels like a bad idea, just as it is a bad idea to “shadow ban” accounts, a practice implemented at Twitter targeting conservatives and freethinkers, as was exposed and proven by Project Veritas in hidden camera interviews with Twitter staff.
But, it has to be said that Twitter must acknowledge that “The best thing ever to happen to Twitter is Donald Trump”, as was stated by Maria Baritromo of Fox News.
On Tuesday, President Donald Trump had a meeting with Twitter CEO Jack Dorsey, and this was surely a positive step in the right direction for the social media platform.
Great meeting this afternoon at the @WhiteHouse with @Jack from @Twitter. Lots of subjects discussed regarding their platform, and the world of social media in general. Look forward to keeping an open dialogue! pic.twitter.com/QnZi579eFb
— Donald J. Trump (@realDonaldTrump) April 23, 2019
However, only time will dictate how Twitter will change with the times. Let’s hope that Twitter makes changes for the better and provide an equal and level platform for everyone, something which hasn’t been seen since right before, or long after the US election in 2016.
Story by Emily Clark
Featured Photo Credit: MarketingLand.com