Twitter Costs Weigh on Earnings Despite Record Sales

📆 06/02/2020 17:30:00
📰 WSJ

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Twitter issued a muted outlook for the current quarter and warned that costs in 2020 would continue to rise

Twitter Inc. posted record revenue in the latest quarter, but rising costs weighed on the bottom line as the social-media company sought to improve its functionality.

The company said Thursday that fourth-quarter net income was $118.8 million as costs rose 22% from a year earlier. The company’s more-closely-watched operating income was $153 million for October through December. That was short of $207 million a year earlier and $161 million that analysts surveyed by FactSet had projected.

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