Twitter withdraws first-quarter revenue forecast on coronavirus fallout

Twitter branding is displayed ahead of the 2020 Consumer Electronics Show (CES) at the Las Vegas Convention Center in Las Vegas, Nevada, on January 5, 2020. (AFP)

Twitter Inc said on Monday it is withdrawing its revenue and operating income forecast for the first quarter, citing the growing impact of the coronavirus outbreak.

“Based on current visibility, the company expects Q1 revenue to be down slightly on a year-over-year basis,” it said.

The company had earlier estimated first-quarter revenue of $825 million to $885 million.

Global conversation about the virus and product improvements are driving strength in total monetizable daily active users (mDAU), the micro-blogging platform said.

Quarter-to-date average total mDAU reached about 164 million, up 23 percent from 134 million in the first quarter of 2019, the company said.

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Last Update: Wednesday, 20 May 2020 KSA 09:57 - GMT 06:57
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