The company’s quarterly figures were well received on the stock exchange: the share rose at times by a good three percent in after-hours US trading.
(Photo: dpa)
San Francisco The corona crisis is pushing Twitter further. In the third quarter, sales rose 37 percent to 1.28 billion dollars, as the world’s largest short message service announced on Tuesday after the US market closed. In the fourth quarter, the revenue should be between 1.5 and 1.6 billion dollars. Even so, competitors like TikTok Twitter are digging a bit of the water. The number of daily active users increased by 13 percent to 211 million. However, Twitter fell short of analysts’ expectations.
The bottom line was that Twitter posted a loss of around $ 536.8 million after being in the black of just under $ 29 million a year earlier. The high minus was due to a settlement payment of over $ 800 million after an investor lawsuit. Investors had already sued in 2016 with the allegation that Twitter had provided false information about the growth prospects.
In contrast to Facebook and the Snapchat operator Snap, Twitter’s new data protection requirements made it less of a problem by Apple, which make it more difficult to create personalized ads and measure their success. Analysts justified this mainly with the fact that Twitter was mainly used for branded advertising.
Twitter is constantly expanding its range – thanks in part to acquisitions such as the Revue newsletter platform and the podcast company Breaker – it also has to accept setbacks again and again. The company quickly removed its fleets – short messages that are disappearing again and how they established Snapchat – from the program again in the summer. What is new, however, is the possibility that prominent users can make content available to their followers on a subscription basis. All of this costs and significantly pushed Twitter into the red. The loss for the third quarter was $ 537 million after a profit of $ 29 million in the same period last year.
Top jobs of the day
Find the best jobs now and
be notified by email.
The quarterly report was well received on the stock exchange: the share rose at times by a good three percent in after-hours US trading.
More: “Truth Social” – Trump announces his own social network