Many IT companies have witnessed a significant loss due to Coronavirus Pandemic. Twitter also forecasted that its first-quarter revenue would go down; however, surprisingly, the outbreak of this pandemic has boosted the number of active users which in turn increased the company’s sales.
This outbreak has turned out to be very beneficial for social media companies such as Twitter who got more population than usual as people are staying at home these days. Secondly, as people are maintaining social distancing, the only way to reach each other is virtual.
Coronavirus Pandemic Leads to the Increase Sales of Twitter in first Quarter Sales
Many advertisers have decreased marketing budgets to remain ready for the virus related uncertainty these days. Many brands also don’t want to associate their companies with the sensitive topic of the corona. While telling about this, Jack Dorsey, CEO Twitter said:
“Total monetizable daily active users (mDAU) jumped 23 percent to 164 million quarter-to-date, driven by the conversation around COVID-19, as well as ongoing product improvements.We’re seeing a meaningful increase in people using Twitter”
If Twitter has witnessed an increase in revenue, we will soon be able to see the impacts of Coronavirus on bigger platforms like Facebook and Google. These firms have not disclosed the financial implications of the outbreak yet.
Twitter will announce the revenue for the first quarter on April 30.