Wall Street cheers Twitter revenue surge

Twitter shares have risen sharply after it reported better than expected quarterly revenues and user numbers, while also recording a big drop in “spammy or malicious behaviour”.

It said revenues rose 18% to $ 841m (£679m) in the three months to the end of June, and that daily active usage hit 139 million.

The strong figures were attributed to efforts to deliver more relevant content, helping attract users and advertisers.

The company’s forecasts for the third quarter were lower than some analysts had been expecting but Wall Street still cheered the results, sending shares 10% higher.

Twitter had been hit by declines in monthly usage numbers during 2018 as it started deleting millions of spam or fake accounts promoting hate speech or spreading political misinformation.

It has now stopped using that metric and instead reports monetisable daily active usage, measuring only users exposed on a daily basis to advertising on the site.

Growth by that measure “shows that Twitter users are sticking with the platform, and that should resonate with advertisers”, said eMarketer senior analyst Jasmine Enberg.

Chief executive Jack Dorsey said it was continuing “to proactively identify and address malicious behaviour, resulting in an 18% drop in reports of spammy or suspicious behaviour”.

Let’s block ads! (Why?)

Tech News – Latest Technology and Gadget News | Sky News

Leave a Reply

Your email address will not be published. Required fields are marked *