Twitter flies to first ever profit as sales hit £523m

TWITTER shares jumped by 23pc as it reported its first quarterly profit despite struggling to entice new users.

The social media site’s net income of £65m compared with a loss of more than £119m in the same period last year.

It was viewed as a significant moment for the stock, which has found it hard to turn user numbers into profit. Twitter also announced record quarterly revenue of £523m. But while it recorded a 12pc increase in daily users, its total monthly active users – a measure of the number of people who use the service regularly – was stuck at around 330m.

Twitter co-founder and chief executive Jack Dorsey said: ‘We had a strong finish to the year. We achieved our goal of profitability. I’m confident in our path ahead.’