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Twitter Just Had Its First Profitable Quarter

The company said Thursday it made $91 million in the fourth quarter of 2017. During that same time last year, it lost $167 million.
Posted at 5:33 PM, Feb 09, 2018

For the first time in its nearly 12-year history, Twitter had a profitable quarter.

The company said Thursday it made $91 million in the fourth quarter of 2017. During the same time last year, it lost $167 million.

Twitter's revenue also showed some significant growth. The social media giant reported fourth-quarter revenue of $732 million. That's up from the previous year.

According to Reuters, Twitter's shares were up 22 percent not long after the good news was announced.

CEO Jack Dorsey said in a statement, "I'm proud of the steady progress we made in 2017, and confident in our path ahead."

Despite its recent financial success, Twitter is still dealing with some pretty big issues.

The company is struggling to get new users to sign up. And it's still working to solve issues with hate speech and fake accounts as well as allegations that Russia used the platform to influence the 2016 U.S. presidential election.

Additional reporting from Newsy affiliate CNN.