Twitter's net income for 2020 was down $1.14 billion as compared to 2019, the company announced Wednesday.
"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.