after the deadly attack on the U.S. Capitol by pro-Trump rioters and Trump’s tweets that the company said violated its ban on inciting violence. Twitter’s Trump ban could depress the social network’s user growth heading into 2021.
For Q1 2021, Twitter said it expects total revenue to be between $940 million and $1.04 billion, and operating income to be between a loss of $50 million and break even. “2020 was an extraordinary year for Twitter. We are more proud than ever to serve the public conversation, especially in these unprecedented times,” Twitter chief Jack Dorsey said in announcing the earnings. “Our product changes to date are promoting healthier conversations for those who use our service, including advertisers and partners, and we are excited about our plans to continue innovating in 2021.
In a research note ahead of the results, Wedbush Securities analyst Michael Pachter said he expected a slowdown in user growth in Q4, citing Twitter’s purge of QAnon accounts among factors that “may have triggered defections by more ardent Trump supporters, offsetting any growth that occurred during the quarter.”
For Q1 2021, Wall Street analysts had been forecasting revenue of about $965 million and EPS of 16 cents.
Source: News Formal (newsformal.com)
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