Despite spike in daily users, Twitter expecting significant impact to ad revenue amid the pandemic

New Ideas in MarketingEssential news for marketers, summarised by YouGov
March 24, 2020, 10:08 AM UTC

Its daily users have jumped 23% as compared to Q1 2019.

Ahead of declaring its quarterly results on 30 April, Twitter has forewarned investors to ignore the guidance it shared regarding revenue and income at the end of the last quarter. Despite a spike in its daily users, Twitter is looking at a “significantly” impacted ad revenue globally owing to coronavirus pandemic.

Twitter has retracted the forecast it made at the end of last year wherein it predicted generating $820 to $885 million in revenue. Further, it was expecting an operating revenue of $30 million.

With people flocking to Twitter for news and updates, this quarter brought its daily users to 164 million. This is a 23% jump from Q1 2019. Twitter’s Ned Segal states that the company remains confident of its opportunity and strategy.

Read the original article

[3 minute read]