Twitter Announces Financial Results For Second Quarter Of 2017

Jul

28

2017

mini-blogging platform Twitter said on Thursday it had failed to increase its users during the second quarter, and revenue fell as the company tried to re-launch itself. The company said in its latest earnings report that the average monthly usage was 328 million for the second quarter, Although it rose by 5 percent from the same quarter a year ago, it is similar to the same number for the first quarter.

The company saw new product developments as average monthly usage increased a year ago, but it was blamed for the lack of average monthly growth compared to the fourth quarter. The average annual growth rate was 12 percent higher than the same period last year, Double growth for the third quarter in a row.

The company said it had generated $ 574 million in revenue, a 5 percent drop from the same period last year, surpassing analysts’ expectations of an estimated $ 537.5 million in revenues. Percent in the first quarter, the first ever drop in revenue throughout the year.

Net loss was $ 116 million, up from $ 107 million in the same quarter last year. However, Twitter says its losses this quarter included a one-time fee of $ 55 million, otherwise it will make progress towards profitability.

The company tried to highlight that it was increasing the “average daily use”, which it said had increased by 12 percent over the same period last year. This was the third consecutive quarter that the “average daily use” grew, although Twitter did not provide basic figures, and these numbers were slightly down from the 14 percent it achieved in the first quarter.

The company has started using the terms “average monthly usage” and “average daily use” instead of the “user” the traditional during the past year for reasons that are not quite clear, a spokesman for Twitter that the platform is “use” and “user” mean the same thing.

Advertising revenue in the second quarter was $ 489 million, down 8 percent year-on-year, offset by an increase of 26 percent in data and other revenue to $ 85 million.

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