Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Twitter Inc., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Revenue	5,077,482)	3,716,349)	3,459,329)	3,042,359)	2,443,299)
Cost of revenue	(1,797,510)	(1,366,388)	(1,137,041)	(964,997)	(861,242)
Gross profit	3,279,972)	2,349,961)	2,322,288)	2,077,362)	1,582,057)
Research and development	(1,246,704)	(873,011)	(682,281)	(553,858)	(542,010)
Sales and marketing	(1,175,970)	(887,860)	(913,813)	(771,361)	(717,419)
General and administrative	(584,336)	(562,432)	(359,821)	(298,818)	(283,888)
Litigation settlement, net	(765,701)	—)	—)	—)	—)
Income (loss) from operations	(492,739)	26,658)	366,373)	453,325)	38,740)
Interest expense	(51,186)	(152,878)	(138,180)	(132,606)	(105,237)
Interest income	35,683)	88,178)	157,703)	111,221)	44,383)
Other income (expense), net	97,129)	(12,897)	4,243)	(8,396)	(73,304)
Income (loss) before income taxes	(411,113)	(50,939)	390,139)	423,544)	(95,418)
(Provision) benefit for income taxes	189,704)	(1,084,687)	1,075,520)	782,052)	(12,645)
Net income (loss)	(221,409)	(1,135,626)	1,465,659)	1,205,596)	(108,063)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Income statement item	Description	The company
Revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Twitter Inc. revenue increased from 2019 to 2020 and from 2020 to 2021.
Income (loss) from operations	The net result for the period of deducting operating expenses from operating revenues.	Twitter Inc. income (loss) from operations decreased from 2019 to 2020 and from 2020 to 2021.
Income (loss) before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Twitter Inc. income (loss) before income taxes decreased from 2019 to 2020 and from 2020 to 2021.
Net income (loss)	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Twitter Inc. net income (loss) decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.

Twitter Inc. (NYSE:TWTR)

Income Statement