Social media platform Twitter revealed Q2 revenues were up 20pc year-on-year to $602m. Twitter reported a Q2 loss of $107m.
Advertising revenue at Twitter totalled $535m, up 18pc for the year. Mobile advertising revenue was 89pc of total advertising revenue.
US revenue was up 12pc to $361m, while international revenues were up 33pc to $241m.
Crucial user figures were up 3pc to 313m monthly active users. US users were up 1pc year-over-year, while international users were up 4pc.
In a letter to shareholders, Twitter said that it has five priorities for the year, including refining core services, live streaming video, supporting creators and influencers, increasing safety and supporting developers.
Twitter remains loyal to core product
In terms of core product, the company said that it will ensure that the home timeline remains at the heart of Twitter and added that it is seeing good results from the enhanced timeline it launched in Q1.
Key to this will be the new Connect tab, which the company believes will encourage people to follow more accounts relevant to their interests.
Another key change was allowing people to add GIFs, photos and videos without using up precious real estate among the staple 140 characters.
In terms of live-streaming video, Periscope broadcasts are no longer limited to 24 hours and users can broadcast indefinitely.
Twitter said that it was increasing sports partnerships, including its first test with Wimbledon earlier this month.
In terms of safety, Twitter said that it has improved account blocking, as well as introducing a comment moderation system on Periscope. In recent weeks, the company permanently banned Milo Yiannopolis – otherwise known as @Nero – for his alleged role in inciting a harassment campaign against Ghostbusters actor Leslie Jones.
On the business front, Twitter said that it has grown to become the No 3 display ad player.
The social media giant warned that it faces challenges due to increasing competition for social marketing budgets and the fact that it is still priced at a premium CPE, relative to others.
Twitter revealed that it is heavily focused on video and cited early conversations with advertisers around NFL live streaming content. Key deals include brands like Anheuser-Busch, Nestlé, Sony Pictures and Verizon.
It also revealed that it is introducing new creative formats for advertisers.
The company’s own research indicated that people who were exposed to ads driving conversions on mobile and desktop were 52pc more likely to make a purchase online.
SMBs were Twitter’s fastest growing channel.
Total ad engagements grew 226pc year-on-year.
Looking ahead to Q3, Twitter said it expects revenue to be between $590m and $610m.
Twitter image via Shutterstock
Get your early bird tickets now!