(RT.COM) – American social-networking company Twitter announced on Wednesday its financial results for the fiscal year 2020, saying it recorded a net loss of $1.136 billion against net income a year earlier.
According to the company, “2020 net loss was $1.14 billion, representing a net margin of -31 percent and diluted EPS [earnings per share – Ed.] of -$1.44. This compares to 2019 net income of $1.47 billion, representing a net margin of 42 percent and diluted EPS of $1.87.” Both periods were affected by non-cash, tax related adjustments, it said.
Costs and expenses totaled $3.69 billion, an increase of 19 percent year over year, while revenue amounted to $3.72 billion.
Source: World Net Daily