Twitter In USD107 Million Loss In Q2, Moves Closer To Profit

Twitter

Twitter Inc. has announced its second quarter financial results for its fiscal 2016 second quarter ended June 30, 2016. The company posted quarterly revenue of USD602 million, up 20% year-over-year.

Quarterly GAAP net loss was USD107 million, or (USD0.15) per diluted share with quarterly non-GAAP net income of $93 million, or $0.13 per diluted share. Average monthly active users (MAUs) were 313 million for the quarter, up 3% year-over-year and compared to 310 million in the previous quarter.

Mobile MAUs represented approximately 82% of total MAUs. Advertising revenue totaled $535 million, an increase of 18% year-over-year. Mobile advertising revenue was 89% of total advertising revenue. Data licensing and other revenue totaled $67 million, an increase of 35% year-over-year. U.S. revenue totaled $361 million, an increase of 12% year-overyear.

International revenue totaled $241 million, an increase of 33% percent year-over-year.

Commenting on the result, Jack Dorsey, Twitter’s CEO said “We’ve made a lot of progress on our priorities this quarter. We are confident in our product roadmap, and we are seeing the direct benefit of our recent product changes in increased engagement and usage. We remain focused on improving our service to make it fast, simple and easy to use, like the ability to watch live-streaming video events unfold and the commentary around them.”

Anthony Noto, Twitter’s CFO said, “This quarter we saw year-over-year and sequential growth in both monthly active and daily active usage. We continue to believe that, with disciplined execution against our priorities, we can drive sustained engagement and audience growth over time. We also have exciting momentum with live-streaming video initiatives underway.

He added that Twitter is “partnering with the providers of the world’s most popular live content to bring more and more of those events onto Twitter to provide a unique and compelling consumer experience.”

 

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