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Twitter falls short of user estimates, avoids hit from Apple privacy changes -Breaking

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© Reuters. FILE PHOTO – This illustration shows the Twitter app on a smartphone, taken 13 July 2021. REUTERS/Dado Ruvic/Illustration/File Photo GLOBAL BUSINESS WEEK AHEAD

By Sheila Dang

(Reuters). Twitter Inc On Tuesday, (NYSE:) missed Wall Street’s expectations of user growth because it was faced with competition from apps like TikTok to people’s attention. However, it reported quarter-end revenue that was in line for estimates.

Social networking website has worked to improve its ability to advertise and add features like audio chat rooms.

According to consensus estimates, advertising revenue was $1.14 trillion in the third quarter.

Twitter’s term for users that are being served ads was “monetizable daily active”, which is the number of users it claims were active during its third quarter. It missed analyst estimates by 212.6 million according to IBES data compiled by Refinitiv.

Twitter’s users in other countries increased by 5,000,000 over the quarter before, but its U.S. base was flat.

According to the company, it has seen a modest impact on ad revenues from privacy settings that Apple Inc (NASDAQ) implemented on iOS devices. These privacy measures prevent advertisers tracking iOS users without their consent.

Investors expected that Twitter would remain relatively safe from the new changes because its advertisers don’t rely heavily on targeted advertising.

Snap (NYSE:), and Facebook (NASDAQ;) both reported third-quarter revenue that fell short of estimates. This was due to the fact that Apple Privacy Changes have affected their ability target and measure digital advertising.

Twitter’s total revenue was $1.28 trillion, including money earned from data licensing. This is in line with Wall Street goals.

Twitter announced that the company’s costs from investing and hiring in a data center in the new year will continue into 2022, with a roughly 20% increase in total expenses.

Company forecasts fourth quarter revenues between $1.5 and $1.6 Billion.

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