Twitter states that it has experienced a major jump in usage during the COVID-19 lockdowns. However at the same time, Twitter also warns of significant impacts on its ad business. This was all part of Twitter's first-quarter earnings report for 2020.
Twitter now sees 166 million daily active users. This adds 14 million on the previous quarter and represents a 24% increase year-over-year.
"The increase in mDAU was driven by typical seasonal strength, ongoing product improvements, and increased engagement due to the COVID-19 pandemic. We saw strong mDAU growth throughout the quarter, with a significant acceleration in March as the pandemic became global. The absolute number of mDAUs stabilized toward the end of March as many people around the world settled into new routines."
In terms of revenue, Twitter earned $808 million in Q1 2020, which represents a 3% year-on-year increase.
The question now is how sustainable those usage numbers will be.