Shares of Twitter rose after the announcement of 74% revenue growth

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Shares of Twitter rose after the announcement of 74% revenue growth

27.07.2021 News

Shares of Twitter, which rose 28.5% since the beginning of 2021 and 88.3% over the past 12 months, rose sharply by 5% after the publication of quarterly results above analysts’ forecasts.

Twitter reported sharp revenue growth of 74% to $ 1.19 billion from a forecast of $ 1.06 billion. The company’s revenue growth in the previous two quarters was 28%.

The number of daily monetized active Twitter users (mDAUs) viewing ads on the site has increased by 11% up to 206 million, which is generally in line with the forecasts of market experts. In the same quarter last year, the number of new mDAUs amounted to 186 million, and in the previous quarter – 199 million.

Twitter expects third-quarter revenue in the range of $ 1.22 billion to $ 1.30 billion, up from analysts’ estimates of $ 1.17 billion.

The company predicts that overall revenue will continue to grow faster than in 2021 – provided that the negative economic impact of the global pandemic on advertisers continues to decline and the company continues to see a moderate impact of changes related to iOS 14.5 updates on Apple devices.

Twitter has said it expects staffing and overhead to increase by at least 30%, and that revenue will grow faster than spending.

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