Twitter reported better-than-expected financial results on Tuesday, beating Wall Street's earnings expectations while falling short on total revenue.
According to its second-quarter earnings, Twitter's revenue totaled $602 million—a 20 percent increased year-over-year—but missed expectations of $607 million. Earnings per share were $.13, higher than the $.10 expected.
Twitter's monthly user base is also growing slowly but steadily, increasing by 3 million over the past three months to total 313 million. Mobile users now account for 82 percent of total users, down one percentage point from first-quarter 2016.
In a letter to shareholders, the company said growth in the second quarter was driven by marketing initiatives, organic growth and product improvements focused on making tweets relevant through a partial algorithm in the timeline and push notifications.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in