According to CEO Jack Dorsey, Twitter has done a lot of work in recent years to create new opportunities for companies to advertise. Previously, Twitter was mainly dependent on large brands that wanted to maintain their brand awareness with their advertisements. But now the company has developed more features to directly entice people to engage with ads through the platform, which should make it more attractive to small and medium-sized businesses like Facebook.
It earned the San Francisco-based tech company quarterly revenue of nearly $1.2 billion, up 74 percent from the same period last year. This sharp increase does give a somewhat distorted picture, because in the spring of 2020 companies massively suspended their advertising expenditure due to uncertainty about the corona pandemic. The number of daily active users rose 11 percent year-over-year to 206 million.
Twitter also saw costs rise, partly because the company has to attract a lot of technologically skilled talent to develop new features for its messaging service. Still, the company managed to make a net profit of $66 million, compared to a loss of $1.4 billion a year earlier.
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Growing Twitter earns more from advertisers | Financial
Source link Growing Twitter earns more from advertisers | Financial