Twitter post Q3 earnings of $569m, but $132m loss
Twitter has announced its latest quarterly results with revenues of $569m for the three months to 30 September equating to a 58 per cent year on year rise, but also resulting in a net loss of $132m, as marketers continue to doubt the efficacy of the social network as an advertising medium.
The results, the first quarterly earnings release after co-founder Jack Dorsey was confirmed as its full-time CEO, also revealed that Twitter’s total average monthly active users (MAUs) numbered 320 million, a rise of 11 per cent year on year with mobile MAUs amounting to 80 per cent of this figure.
Advertising revenue for the period totalled $513m, an increase of 60 per cent year-over-year, according to the release, with ads served on mobile devices amounting to 68 per cent of this total. Revenues from data licensing were $56m in total accounted for the remainder of its income during the period, equating a to a 37 per cent year on year increase.
A release detailing the results carries a statement from Dorsey, which read: “We continued to see strong financial performance this quarter, as well as meaningful progress across our three areas of focus: ensuring more disciplined execution, simplifying our services, and better communicating the value of our platform.”
“We’ve simplified our roadmap and organization around a few big bets across Twitter, Periscope, and Vine that we believe represent our largest opportunities for growth.”
The figures revealed a loss of $132m during the period, although this did represent an improvement compared to a loss of $175m during the same period12 months earlier.
Additionally, Twitter also forecast that revenue for the coming quarter would be in the range of $695m to $710m. The social network also used the release to highlight its progress with improving its advertising services including the launch of video auto-play on all devices, as well as the expansion of its self-service advertising platforms to over 200 countries, in addition to the further roll out of its Twitter Audience Platform (formerly the Twitter Publisher Network).
Dorsey and fellow members of the Twitter leadership team are set to face questions from Wall Street investors on its quarterly earnings call later this evening.