The report comes one week after Twitter suffered a serious hack compromising the accounts of major politicians and CEOs.
Here are the key numbers:$1.39, adjusted, which is weighed down by a $1.1 billion loss related to a non-cash deferred tax asset, making it difficult to compare to analyst estimates.Monetizable daily active users :Twitter grew mDAUs 34% year over year in the quarter, the highest rate since it began reporting the metric. Twitter attributed the growth in large part to shelter-in-place orders around the world and more global conversations about the pandemic and other major events.
Last quarter, Twitter offered few signs of recovery after advertising spend took a hit at the start of the pandemic in the U.S. in March. But in Thursday's letter to shareholders, Twitter said, "We saw a gradual, moderate recovery relative to March levels throughout most of Q2, with the exception of late May to mid-June, when many brands slowed or paused spend in reaction to US civil unrest.
Twitter said advertising revenue came to $562 million, down 23% year over year. Advertising revenue was down just 15% year over year in the last three weeks of June, according to the report.The company said it has now finished its ad server rebuild after it had blamed the server. The completed project should allow Twitter to better target and monetize ads.
This quarter, executives will likely face questions from analysts on its earnings call about the security of its platform following a major hack last week. Hackers were
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