Twitter profit drops in 4th quarter but user numbers rise

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Twitter reported Thursday that its fourth-quarter net earnings fell to $119 million from $255 million in the same period a year earlier.

The San Francisco-based tech company said it had net income of 15 cents per share. Earnings, adjusted for one-time gains and costs, were 17 cents per share.

The short messaging service posted revenue of $1.01 billion in the period, 11% higher than a year ago.

For the whole year, Twitter posted net income of $1.47 billion on revenue of $3.46 billion.

The company had 152 million daily users in the latest quarter, up from 145 million in the previous quarter.

FILE – This April 26, 2017, file photo shows the Twitter app icon on a mobile phone in Philadelphia. Twitter will begin to label and in some cases remove doctored or manipulated photos, audio and videos that are designed to mislead people. The company said Tuesday, Feb. 4, 2020, that the new rules prohibit sharing synthetic or manipulated material that’s likely to cause harm. (AP Photo/Matt Rourke, File)
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