Twitter Reports Increase in Daily Users But a Drop in Revenue

In the quarter ending June 30, Twitter’s number of daily users rose 12 percent from the previous quarter to 186 million, while revenue dropped 19 percent from a year earlier to $683 million. The former number surpassed the expectations of analysts polled by FactSet whereas the latter was below the predicted $702 million estimate. It adds up to a $1.23 billion loss, impacted by a reversal of a $1+ billion tax benefit in 2019. Twitter has not provided forecasts for revenue or operating income in its latest earnings report. Continue reading Twitter Reports Increase in Daily Users But a Drop in Revenue