"The social media company made some baby steps towards stability in revenue and audience retention, but was stymied by the ongoing chaos about its delayed purchase by Elon Musk and advertisers cutting budgets. In the wake of Snap's disappointing results, Twitter followed suit in announcing its overall revenue for the three months to 30 June was £986m, representing a decline of 1% ($270m), on the same period last year."
"Engagement has been a major priority for Twitter since last year. Its then-chief exec Jack Dorsey had said: "As we enter the second half of 2021, we are shipping more, learning faster, and hiring remarkable talent. For example, our increased shipping cadence contributed to reaching 206 million average monetizable DAU 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.""
Twitter reported Q2 revenue of £986m, a 1% decline year-over-year, citing a slowdown in ad spend and uncertainty around Elon Musk's delayed takeover. Advertising accounts for roughly 90% of total revenue, amplifying the impact of reduced advertiser budgets. Monetizable daily active users grew 16% to 237.8 million, slightly below analyst expectations, reflecting modest audience recovery. Engagement has been a priority, with increased product shipping credited for prior DAU gains and efforts to improve audience performance. The company has made limited progress on revenue diversification and user retention but remains constrained by macroeconomic ad headwinds and takeover-related instability.
Read at The Drum
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