
Twitter: quarterly net income 2012-2020
In the last reported quarter, social network Twitter generated a total net income of 28.66 million U.S. dollars. Earlier in the same year, the decline in revenue was due to an advertising slump caused by the outbreak of the global coronavirus pandemic, which led the company to recognize a deferred tax asset valuation allowance of 1.1 billion U.S. and a non-cash income tax expense based primarily on cumulative taxable losses driven primarily by COVID-19.