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Twitter announced that its revenue hits $909 million in Q4

Twitter on Thursday announced that its revenues for the fourth quarter of 2018 has hit $909 million, growing 24 per cent year on year and beating market estimates of about $868 million.

The 2018 revenue rose 25 per cent year on year to exceed $3 billion, while its net income was $1.2 billion, compared with a net loss of $108 million in the previous year.

The social network’s net income for the fourth quarter was $255 million, compared with $91 million in the same period of a year earlier, representing a net margin of 40 per cent, reports Xinhua news agency.

It said its total US revenue in the fourth quarter was $506 million, up 24 per cent, and total revenue earned from other countries was $403 million, also an increase of 24 per cent.

It listed Japan as its second largest market, contributing $138 million or 30 per cent growth, which accounted for 15 per cent of its total revenue for the quarter.

Twitter said its active daily users (DAU) in the fourth quarter of 2018 increased 9 per cent year-over-year with double-digit growth in five of its top 10 global markets, and the fourth quarter DAU was 126 million, compared to 124 million in the previous quarter.

The monthly active users (MAU) were 321 million for the fourth quarter, a slight fall from 326 million in the previous quarter.

Twitter said its fourth quarter expenses increased 13 per cent year-over-year to hit $702 million, resulting in operating income of $207 million.

“Through our consistent strategy and solid execution, Q4 was a strong finish to the year,” Twitter Chief Financial Office Ned Segal was quoted as saying by Xinhua.

For the first quarter of 2019, Twitter expects its total revenue to stand between $715 million and $775 million, with operating income to between $5 million and $35 million.

The cash operating expenses are expected to increase about 20 per cent year-over-year in 2019 to support its existing priorities of health, conversation, revenue product and sales, and platform, Twitter said.

IANS

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Business

Alphabet logs $39.3 bn in revenue on Google ad business

Riding on Google’s robust ad business, the parent company Alphabet has logged $39.3 billion in revenue for the fourth quarter of 2018 — an increase of 22 per cent from the same period a year ago.

Google’s advertising business accounted for $32.6 billion of Alphabet’s overall revenue.

“In 2018 we delivered strong revenue growth, up 23 per cent year over year to $136.8 billion, and up 22 per cent for the fourth quarter to $39.3 billion,” Ruth Porat, Chief Financial Officer of Alphabet and Google, said in a statement on Monday.

Alphabet’s traffic and acquisition cost was $7.4 billion, up from $6.5 billion a year ago.

“With great opportunities ahead, we continue to make focused investments in the talent and infrastructure needed to bring exceptional products and experiences to our users, advertisers and partners around the globe,” Porat added.

The company which now has 98,771 employees globally reported a net income of $8.94 billion for the fourth quarter.

Other revenue — which includes hardware, Play Store, and Google Cloud enterprise efforts — reported $6.4 billion. Alphabet did not separately disclose how much its Cloud business contributed to this quarter’s revenue.

IANS

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Business

Reversing declining trend, GST revenue Rs 1,02,503 cr in January

Reversing the declining trend of two months, the revenue collection under the Goods and Services Tax (GST) showed a marked improvement in January and stood at Rs 1,02,503 crore, crossing the Rs 1-lakh crore-mark only for the third time this fiscal.

The January collection was also 14 per cent higher than last year’s collection in the same month, the Finance Ministry said on Saturday.

The revenue collected in January relates to transactions made in December. The collection in December (for November transactions) was Rs 94,726 crore, down from Rs 97,637 crore in November.

The last time the GST collections had breached the Rs 1-lakh crore-mark was in October when it stood at Rs 1,00,710 crore.

Out of the Rs 1,02,503 crore collected in January, Rs 17,763 crore was collected as Central-GST (CGST), Rs 24,826 crore as State-GST (SGST), Rs 51,225 crore as Integrated-GST (IGST) and Rs 8,690 crore as cess, the Ministry said.

“In FY19, it is for the third time that GST revenue collection has crossed Rs 1 lakh crore,” it said in a statement.

It said a total of 73.3 lakh GSTR-3B returns were filed till January 31, up from 72.44 lakh returns the previous month.

The Ministry said that January 2019 collections were 14 per cent above the January 2018 collections of Rs 89,825 crore.

“This jump has been achieved despite various tax reductions having come into force that provided major relief to the consumers. The gross GST collections over the last three-month period has been 14 per cent higher than the corresponding period last year,” it stated

The announcement of GST figures crossing the Rs 1-lakh crore-mark was already made by the Finance Minister Piyush Goyal on Friday during his Interim Budget speech, when he said the collection for the month was expected to be at around Rs 1,03,000 crore. However, the actual numbers were released on Saturday.

The average monthly GST collection this year has been Rs 97,100 crore, as compared to Rs 89,700 crore last year.

IANS

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Business

Amazon logs $72.4 bn revenue, annual sales cross $200 bn

Fuelled by the growth in its Cloud arm, Amazon Web Services (AWS) and advertising business, Amazon’s revenue hit $72.4 billion in the fourth quarter that ended December 31 — up 20 per cent from the same period a year ago.

The strong end to the year pushed Amazon’s annual sales to $232.9 billion.

Net income increased to $3 billion in the fourth quarter, compared with $1.9 billion in the fourth quarter of 2017.

AWS saw sales up 45 per cent from the prior year to $7.4 billion. AWS now provides 60 Availability Zones across 20 infrastructure regions globally, with another 12 Availability Zones and four regions coming online by the first half of 2020.

The year brought a defining moment for Amazon’s smart home speaker Alexa.

“Alexa was very busy during her holiday season. Echo Dot was the best-selling item across all products on Amazon globally, and customers purchased millions more devices from the Echo family compared to last year,” said Jeff Bezos, Amazon Founder and CEO.

Customers can now choose from more than 28,000 Alexa-compatible smart home devices from more than 4,500 unique brands.

“In 2018, we improved Alexa’s ability to understand requests and answer questions by more than 20 per cent through advances in machine learning,” Bezos added.

Developers doubled the number of Alexa skills to over 80,000, and customers spoke to Alexa tens of billions more times in 2018.

The all-new Echo Dot was the top selling product on Amazon globally.

Device makers announced more new Alexa products,, including the Lenovo Smart Tab and new devices from brands like First Alert, Jabra, JBL, Kohler, LG, and Razer.

Amazon partnered with ICICI Bank to launch the Amazon ICICI Bank credit card to pre-selected customers in India.

“This is the first card in the country to offer Prime members 5 per cent in reward points for their purchases on Amazon.in and reward points for all other payments where Visa is accepted,” said the company.

IANS