Twitter posted its Q2 earnings, beating expectations on $1.19 billion in revenue.
Once the darling of the social media market, Twitter has been surpassed in recent years by newer upstarts. The platform showed it still has room to grow in its latest report, however, posting $1.19 billion in revenue, an increase of 74% year-over-year.
Advertising revenue came in at $1.05 billion, an 87% increase year-over-year. The company also posted an 11% year-over-year growth of the coveted Monetizable Daily Active Usage (mDAU).
“As we enter the second half of 2021, we are shipping more, learning faster, and hiring remarkable talent,” said Jack Dorsey, Twitter’s CEO. “For example, our increased shipping cadence contributed to reaching 206 million average monetizable DAU (mDAU) in Q2, up 11% year over year and 3% quarter over quarter. There’s a tremendous opportunity to get the whole world to use Twitter.”
“We delivered better-than-expected performance across all major products and geographies while growing our audience,” said Ned Segal, Twitter’s CFO. “We continued to make significant progress on our direct response and brand products with updated ad formats, improved measurement, and better prediction. We are driving more value for advertisers with our strong push into performance-based advertising and expanded offerings for small and medium-sized businesses.”