Twitter Reports Highest Ever Growth in Monetisable Daily Active s 251e51 Reaches 186 Million

Twitter's average monetisable daily active s (mDAU) increased 34 percent YoY to 186 million, above analysts' target of 176 million. 3x6k3u

By Reuters | Updated: 23 July 2020 17:41 IST

Twitter Reports Highest Ever Growth in Monetisable Daily Active s, Reaches 186 Million

Twitter has struggled to build out its ad offerings, leaving it reliant on a suite of promotional tools 5s701b

Highlights

Ad sales sank 23 percent to $562 million
Total revenue came in at $683 million, down 19 percent year-on-year
Twitter reported a second-quarter loss of $1.2 billion

ment

Twitter reported its highest-ever yearly growth of daily s who can view ads, beating analysts' estimates on usage and sending its shares up 6 percent in pre-market trading on Thursday.

The company coronavirus-spurred economic slowdown battered the company's largely events-oriented digital ads business.

Ad sales, which make up 82 percent of Refinitiv.

Microsoft Sees Growth Amid Pandemic Computing Demands

But even as current events prompted rs to pull back, people continued to flock to Twitter to discuss them. Twitter's average monetisable daily active s (mDAU) increased 34 percent year over year to 186 million, above analysts' target of 176 million.

Twitter has struggled to build out its ad offerings, leaving it reliant on a suite of promotional tools geared toward advertising around big events and product launches, which have all but vanished during the pandemic.

The company said it finished rebuilding its ad management technology in the second quarter, which would faster development of new formats going forward, and was rolling out measurement tools for "direct response" ads used by app developers.

Total revenue came in at $683 million (roughly Rs. 5,110 crores), down 19 percent year-over-year, helped by steadier sales growth from the licensing of s' posts to researchers and marketers.

Twitter reported a second-quarter loss of $1.2 billion (roughly Rs. 8,979 crores), largely driven by the reversal of a tax benefit established last year, when the company transferred intellectual property to Ireland. Because of the second quarter's steep coronavirus-related losses, Twitter did not make enough money to take advantage of the tax benefit.

Adjusted to exclude the tax considerations, the company incurred a loss of $127 million (roughly Rs. 950 crores), or 16 cents per share, roughly in line with analyst expectations of a $125 million (roughly Rs. 935 crores) loss. It had an adjusted profit last year of $37 million (roughly Rs. 276 crores).

Echoing earlier guidance, Twitter said it expects data licensing revenue to "moderate" for the rest of the year.

It also said it was exploring "subscriptions and other approaches to complement our advertising business," although it was not expecting any revenue to result this year.

Costs and expenses grew 5 percent to $807 million (roughly Rs. 6,037 crores), below the increase in the low teens that Twitter had forecast. The company said it anticipated expense growth of 10 percent or more in the third quarter.

Social media rival earlier this week, as its usage bump from coronavirus lockdowns petered out sooner than expected, but it beat targets for revenue gains.

Is Redmi Note 9 the perfect successor to Redmi Note 8? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, the episode, or just hit the play button below.

links may be automatically generated - see our ethics statement for details.

Comments

For the latest reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.