Twitter posts US$61m profit for Q1, after US$61.5m loss last year

Twitter has seemingly turned its financials around, boasting a US$60.997m adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the first quarter of 2018 – up from a US$61.569m loss for the same period in 2017. Twitter also claimed total advertising revenue of US$575m, an increase of 21% year-on-year.

The unaudited results come as social media rival Facebook posted a net income of US$4.988bn and claimed advertising revenue growth of 50%.

Twitter claimed 21% advertising revenue growth