Twitter Reaches More Than 206 Million Users and Exceeds Quarterly Revenue Expectations
The company’s stock rose as much as nine percent following the report.
Twitter on Thursday released its second-quarter earnings report, revealing that the social media platform now has more than 206 million monetizable daily active users, or Twitter users who view advertisements on the site.
The company reported a second-quarter revenue of $1.19 billion USD — an increase of 74 percent compared to its 2020 figures — topping financial forecasts of $1.07 billion USD. Twitter also reported an earnings per share of $0.20 USD, exceeding an expectation of $0.07 USD. After suffering a $1.3 billion USD loss in market value in the second quarter of 2020, the social media company on Thursday reported a $65.6 million USD profit.
Following the release of Twitter’s earnings report, the company’s stock rose as much as nine percent in extended trading, according to CNBC.
Throughout the last quarter, the social media site introduced several new features, including its Spaces audio chat integration for users with more than 600 followers and its first subscription service in Canada and Australia, titled Twitter Blue, while also announcing a Tip Jar feature that will allow users to send money through the platform.
Though Twitter’s active user base increased across the globe, its user base in the U.S. fell by 1 million in the last quarter.
“We delivered better-than-expected performance across all major products and geographies while growing our audience,” said Ned Segal, Twitter’s CFO, in the release. “We continued to make significant progress on our direct response and brand products with updated ad formats, improved measurement, and better prediction. We are driving more value for advertisers with our strong push into performance-based advertising and expanded offerings for small and medium-sized businesses.”
In another financial report, Crocs showed record-high revenue figures amid surging global demand for the second quarter of 2021.
