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Twitter Swings to Profit in Q2 on Fastest Pace Growth Since 2014

Published 07/22/2021, 04:08 PM
Updated 07/22/2021, 04:08 PM
© Reuters.  Twitter Inc Earnings, Revenue Beat in Q2

© Reuters. Twitter Inc Earnings, Revenue Beat in Q2

By Yasin Ebrahim

Investing.com - Twitter (NYSE:TWTR) swung to a profit in the second-quarter Thursday as the social media company enjoyed its fastest pace of revenue growth in seven years.

Twitter Inc shares gained 15% in after-hours trade following the report.

Twitter Inc announced earnings per share of 8 cents on revenue of $1.19 billion, compared with a loss $2.75 a share on revenue of $683.4. million. Analysts polled by Investing.com anticipated EPS of 7 cents on revenue of $1.06 billion.

Monetizable daily active users, or mDAUs, increased to 37 million from 38 million in Q1, and ahead of 36 million a year ago. Internationally, mDAUs jumped to 169 million from 162 million last quarter, and 150 million a year ago.

Advertising revenue rose 87% to $1.05 billion.

Looking ahead to Q3, revenue is expected to between $1.22 billion and $1.3 billion. That compared with analysts estimates for $1.06 billion. Operating income is expected to be between a loss of $50 million and breakeven.

"As we enter the second half of 2021, we are shipping more, learning faster, and hiring remarkable talent," says CEO Jack Dorsey. "For example, our increased shipping cadence contributed to reaching 206M average mDAU in Q2, up 11% year over year and 3% quarter over quarter. There's a tremendous opportunity to get the whole world to use Twitter."

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Latest comments

Bought a big chunk on the dip. The cult followers sold the stock. Now some scramble to buy it back.
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