Here are the highlights of Twitters second quarter results:
u2014u2014Twitters second quarter revenue was $683 million, down 19% from $841 million in the same period last year, lower than analysts consensus forecast of $707 million;
u2014u2014Twitter had a net loss of $1228 million in the second quarter, compared with a net profit of $1.12 billion in the same period last year;
u2014u2014Twitter lost $1.56 a share in the second quarter, compared with $1.46 a share in the same period last year;
u2014u2014Twitters monetized daily active users (mdau) reached 186 million in the second quarter, up 34% from the same period last year, higher than the expected 172.8 million.
Twitters mdau rose 34% year-on-year in the quarter, the highest since the company began reporting the index. Twitter attributed much of its growth to asylum in place bans around the world and more global dialogue about the new outbreak and other major events. With major sporting events cancelled, Twitter has been experimenting with virtual events to stimulate more discussion.
Image: Twitter CEO Jack Dorsey
Twitter said advertising revenue in the second quarter was $562 million, down 23% from a year earlier. But in the last three weeks of June, advertising revenue fell only 15% year-on-year. Once the protests subside and the brand returns, demand will gradually improve, Twitter said
The company said it had completed the rebuilding of its advertising server, which it had previously attributed to revenue problems in the third quarter of 2019. After rebuilding, twitter will be able to better position and monetize ads.
Twitter has confirmed that hackers manipulated employees to gain access to internal systems that allow them to reset passwords and log in to 45 of the 130 target accounts. At the same time, the hacker downloaded eight user accounts that were not verified. On Wednesday, twitter said it believed hackers had accessed private message inboxes of up to 36 target accounts.
Hacking has again made twitter the subject of government censorship. But in addition to hacking, Twitter has also had to deal with President Donald Trumps executive order on responsibility for technology platforms, and its chief executive has recently been called on to join the CEOs of Amazon, apple, Facebook and Google in a congressional antitrust hearing.
In a letter to shareholders, twitter said it had stepped up tagging when it believed that certain tweets violated its policy against misleading information. It also introduced specific improvement measures to detect false information related to the new outbreak.
Twitter shares fell 0.19% to $36.94 on Wednesday. As of the time of this article, the stock is up more than 5% in pre market trading and is currently trading at $39.11. (small)
Source: Wang Fengzhi, editor in charge of Netease science and Technology Report_ NT2541