Twitter Reports Stronger Than Expected Second Quarter Results, Stocks Jump | WGN 720 radio

FILE – The login / registration screen for a Twitter account is seen on a laptop on Tuesday April 27, 2021 in Orlando, Florida. Twitter on Thursday, July 22, posted higher-than-expected profits for the second quarter thanks to growing ad demand in all geographies and all types of ad products. (AP Photo / John Raoux)

Twitter on Thursday posted better-than-expected second-quarter profits on Thursday thanks to growing advertising demand in all geographies and all types of advertising products.

The San Francisco-based company earned $ 65.6 million, or 8 cents per share, in the April-June quarter. That’s a loss of $ 1.38 billion, or $ 1.75 per share, a year earlier.

Revenue jumped 74% to $ 1.19 billion from $ 683.4 million, beating Wall Street expectations. In the United States alone, advertising revenue has almost doubled.

Analysts were expecting an average of 7 cents per share and revenue of $ 1.07 billion, according to a FactSet survey.

Twitter said it expects revenue of between $ 1.22 billion and $ 1.3 billion for the current quarter. Analysts are forecasting $ 1.17 billion.

The number of daily users increased 11% to 206 million from the previous year, in line with expectations.

Twitter said it was continuing to work to make conversations on its platform “healthier.”

He said that among the steps, his systems now take into account the nature of the relationship between the originator of a tweet and the responder, including how often they interact.

“We’ve also improved our ability to more accurately detect loud language, including profanity, and created easier ways for people to let us know if they found the prompt useful or relevant,” the company said. in a letter to shareholders.

During the second quarter, Twitter introduced a host of new products, including a ‘Tip Jar’ that allows users to collect payments and ‘Super Follows’ that allow users to charge for additional exclusive material not shown to their regular followers. .

Twitter shares jumped about 5% in after-hours trading. The stock had closed up 7 cents at $ 69.57.

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