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Twitter saw record growth in Q2 as the world stayed home

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In brief: Twitter in its second quarter earnings report on Thursday said its average monetizable daily active user count reached 186 million for the three-month period ending June 30, 2020, an increase of 34 percent year over year.

Broken down further, we see that mDAUs in the US were up 24 percent quarter-over-quarter while international mDAUs climbed by 37 percent. It’s the highest quarterly year-over-year growth rate Twitter has experienced since it first started reporting mDAU growth, we’re told.

The company in its letter to shareholders credited the global conversation around current events like Covid-19 and ongoing product improvements as factors in driving user engagement during the quarter.

On the income side, Twitter generated $683 million in revenue during Q2. That’s down 19 percent compared to the same period a year ago but reflects “moderate recovery” in demand for advertising versus the last three weeks in March, the company said.

Costs and expenses, meanwhile, increased five percent year-over-year to $807 million, resulting in a quarterly operating loss of $124 million.

Twitter also touched on last week’s security issue in which several high-profile accounts were compromised and used to promote a coordinated cryptocurrency scam. The social network said it is working with law enforcement as they conduct their investigation, adding that they have taken extra steps to improve their resiliency against targeted social engineering attempts.

Image credit: Michael Vi, Dragana Gordic



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Written by sortiwa

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