Twitter’s latest quarterly results indicate the social network has found its footing once again. While revenues declined for the first time ever, the company added 9 million more users.
“We’re proud to report accelerating growth in daily active usage for the fourth consecutive quarter, up 14% year over year,” said Twitter CEO Jack Dorsey in a statement.
“We’re delivering on our goal to build a service that people love to use, every day, and we’re encouraged by the audience growth momentum we saw in the first quarter,” he said. “While we continue to face revenue headwinds, we believe that executing on our plan and growing our audience should result in positive revenue growth over the long term.”
The company posted first-quarter revenues of $548 million, down 8% year over year—but still better than what analysts expected.
Twitter’s average monthly active users (MAUs) also increased in the first quarter, totaling 328 million, up from 319 million in the previous quarter.
“Driven by a solid trend of increased user engagement and growth in its core US monthly audience, we expect Twitter to see new ad deals and reverse previous advertiser abandonment of the platform,” said Martín Utreras, vice president of forecasting at eMarketer.
eMarketer doesn’t break down monthly Twitter user numbers per quarter, but rather by year. Our numbers are lower than official Twitter numbers as they are for all social networks because we don't count duplicate accounts, fake accounts, business accounts and nonhuman accounts.
That said, this year, eMarketer estimates Twitter’s worldwide user base will grow 3.4% to 255.3 million monthly users.