Twitter’s war against President Trump in 2020 proved to be disastrous to their business.
The company 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.
“2020 net loss was $1.14 billion, representing a net margin of -31 percent and diluted EPS [earnings per share] of -$1.44,” a company statement reads, in part. “This compares to 2019 net income of $1.47 billion, representing a net margin of 42 percent and diluted EPS of $1.87.”
Twitter reported a 19% increase in costs and expenses, with total revenue of $3.72 billion. The company also had tax-related adjustments.
Twitter banned President Trump just before the end of his term, leading to a mass mass exodus of users from the platform along with a sharp rebuke from world leaders.
