Twitter Headed Towards First Profitable Quarter

Twitter is close to turning a quarterly profit for the first time in the social network's history. Its latest financial information reveals the company had net losses of only $21 million during Q3 and Twitter believes a profit could be obtained in the fourth quarter.

It is sitting at 330 million monthly active users, a figure that hasn't substantially grown in recent months. Twitter is trying to update its platform, such as by changing the character limit and cracking down on harassment, to pull more people in.

Twitter's quarterly revenue fell to $590 million, though within that figure was a 22% rise in revenue for its data licensing division, which brought in $87 million.