Sumary of Twitter beats revenue targets with ad improvements, shares jump 7per cent:
- Business :Twitter Inc on Thursday reported higher revenue growth than Wall Street had expected, as the social media platform rolled out ad targeting improvements and said changes by Apple to keep iPhone user data private had hit ad revenue less than anticipated.
- Shares of Twitter jumped 7per cent to US$75 in trading after the bell.
- Twitter has worked to improve the effectiveness of its ads, which have traditionally lagged larger rivals like Facebook, which holds vast troves of data on users.
- Those improvements, along with higher demand from advertisers seeking to reach consumers as countries reopen from pandemic restrictions, helped propel ad revenue, Twitter said.
- “As we enter the second half of 2021, we are shipping more, learning faster, and hiring remarkable talent,” Twitter Chief Executive Jack Dorsey said in a statement on Thursday.
- Twitter reported 206 million monetizable daily active users (mDAU), its term for users who are served advertising, for the second quarter ended June 30, matching analyst targets of 205.9 million users, according to IBES data from Refinitiv.
- During the quarter, the social media company introduced more than 2,500 new topic categories to help users follow content based on their interests.