Twitter Adds Healthy Number of Monthly Users and Posts Q2 Earnings Topping Expectations
Twitter reported its second quarterly earnings that surpassed analysts' expectations but could not match the total revenue forecasts.
Twitter reported total revenue of $602 million which is a twenty percent increase on a year on year basis. However, the numbers missed expectations of $607 million. Earnings per share were more than expected at $.13.
Although not by an overwhelming number but Twitter's monthly user numbers grew steadily adding three million in the last quarter totaling to 313 million. Among the total number of users, eighty two percent are mobile users which are one percentage point down compared to this year's first three months.
Saying that the company has made good progress in the latest quarter, Jack Dorsey, Twitter's CEO added, "We are confident in our product roadmap, and we are seeing the direct benefit of our recent product changes in increased engagement and usage. We remain focused on improving our service to make it fast, simple and easy to use, like the ability to watch live-streaming video events unfold and the commentary around them."
Twitter's advertising revenue was up eighteen percent to $535 million. Compared to the ad revenue in the United States, the international ad revenue leaped at a greater pace moving up thirty three percent on a year-on-year basis totaling $241 million.
New Zealand News
- Tesla plans to open Superchargers to other automakers this year: Elon Musk
- 2022 Audi e-tron GT to hit US roads this summer, prices starting at $99,900
- South Korean EV battery manufacturers to invest $35 billion by 2030
- Chinese smart EV maker XPeng to join Hang Seng Composite Index
- New South Wales announces new policy to boost EV adoption
- TenneT adds more electric BMWs to study use of EVs to support power grids
- Italy’s ASPI announces plans to install cross-country ultra-fast EV charging network
- EV ownership costs significantly lower than conventional models: French Study
- Results of Tesla Model S Plaid fast charging study are quite amazing
- Garelli rolls out new electric scooter Ciclone E4 with more power