BRIEFING // Boosted by a rise in its advertising business, Twitter reports revenue above market expectations and a rising number of “monetizable” daily users for the second quarter of 2021.
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© Getty – Andrew Burton
After not shining as brightly as other big tech companies at the start of the year, Twitter had a solid second quarter and above market expectations. Its revenue was up 74% year-on-year to $1.19 billion (compared to about $1.07 billion expected). This strong performance was driven by a sharp increase (+87% year-on-year) in its advertising business ($1.05 billion in revenue). The platform reported an operating profit of 30 million dollars.
The number of “monetizable” daily active users grew 11% year-over-year to 206 million.
At a conference following the earnings release, Twitter CEO Jack Dorsey also said that bitcoin is a “big part” of Twitter’s future, especially for use in e-commerce and the creator economy.