Twitter reported a rise of 58 per cent y-o-y with a revenue of USD 569 million in the third quarter. This was above the previously forecast range of USD 45 million to USD 560 million.
The monthly active users were up 11 per cent y-o-y to 320 million. However, the active users grew only by 1.2 per cent compared to the previous quarter.
“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 organisation around a few big bets across Twitter, Periscope, and Vine that we believe represent our largest opportunities for growth,” said Jack Dorsey, CEO of Twitter.
The platform’s advertising revenue was up by 58 per cent from USD 361 million over the same quarter last year to USD 513 million this year.
Adam Bain, COO, Twitter, said, “In the quarters ahead, we have plans to increase businesses’ use of Twitter. We have identified close to nine million SMBs already on Twitter, and it’s a key priority for us to provide them with more customised tools and services.”
Off-network advertising revenue reached USD 66 million, up from eight per cent of ad revenue in Q2, 2015 and two per cent in Q3, 2014.
Anthony Noto, CFO, Twitter, said, “Total ad revenue growth continues to be driven by strong growth in demand from our advertising products, as once again we benefited from significant growth in our advertiser base.”