Olympics, smartphones push Twitter revenue up 30 percent in Brazil

Wed Feb 22, 2017 10:07pm EST
 
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By Brad Haynes

SAO PAULO (Reuters) - Twitter Inc has found a bright spot in Brazil, Latin America's largest economy, even as weak advertising sales across the globe have punished the social network's stock in recent weeks.

Advertising revenue rose about 30 percent in Brazil last year, Twitter's top executive in the country told Reuters, defying a two-year slowdown in the local economy and more than doubling the company's 13 percent revenue growth globally.

Twitter, which does not break down its revenue by country, gave no concrete sales numbers in Brazilian or U.S. currency. It was an unusual move for the company to give details on its performance in one country.

"Brazil is a motor of growth for Twitter, both in users and in revenue," said Fiamma Zarife in a recent interview.

A surge of interest in real-time marketing around the Olympics, which Rio de Janeiro hosted in August, brought new clients to the platform, she said, and rising smartphone use continues to generate user growth in the country.

The performance in Brazil last year may have been a bright spot for Twitter, but the company is still struggling to convince investors it can win the global war for online advertising against rivals Snapchat and Facebook Inc.

Earlier this month, Twitter posted its slowest quarterly revenue growth since it went public four years ago, sending its shares down more than 10 percent to a seven-month low.

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The Twitter logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2016. REUTERS/Brendan McDermid/File Photo