Twitter said it expects to miss first quarter 2020 financial expectations because of the COVID-19 pandemic, although the company also said the crisis has significantly expanded its average daily user base — with a net gain of 12 million so far in the current period.

The social network said it currently expects Q1 revenue to be “down slightly” from the year-earlier period, for which Twitter reported sales of $787 million. Twitter also expects to report an operating loss for the current quarter. Previously, Twitter had provided Q1 guidance of revenue between $825 million and $885 million, and operating income of between “$0 million and $30 million” (vs. $93.7 million in the year-ago quarter).

Reduced expenses resulting from the COVID-19 disruption are “unlikely to fully offset the revenue impact of the pandemic in Q1,” the company said Monday.

At the same time, the COVID-19 outbreak and ongoing product improvements have boosted Twitter’s overall monetizable daily active users: According to the company, year to date average total monetizable DAUs are approximately 164 million, up 23% from 134 million in Q1 2019 and an increase of 8% from 152 million in Q4 2019.

In the current quarter, “We’re seeing a meaningful increase in people using Twitter, and our teams are demonstrating incredible resilience adapting to this unprecedented environment,” Twitter CEO Jack Dorsey said in a statement. “We’ll continue to navigate this environment focusing on supporting our employees, customers, and partners, while strengthening our service for everyone around the world and adjusting to a new operating and economic environment.”

Twitter had a strong start to the year before the effects of COVID-19 “began spreading more broadly,” CFO Ned Segal said in a statement, citing success from Super Bowl LIV and overall strength in the U.S.

The company is scheduled to report Q1 2020 earnings on April 30 before the market opens.

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