Twitter (TWTR) earnings Q3 2021
Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square speaks on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida.
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It stated that it had taken a $766 million one-time net litigation-related charge related to an $809.5 million settlementIn September, the company apologized to investors for misleading them about user growth.
This is what Twitter said, versus Wall Street estimates.
- Earnings Adjusted: 54 cent loss per share
- Revenue $1.284 billion vs. $1.285 billion as expected by analysts polled by Refinitiv.
- Monetizable daily users (mDAUs), 211 million vs. 211.9 million as expected by analysts polled by StreetAccount.
Twitter lost $537 million due to the settlement. This compares with a $29 million profit a year earlier.
The quarter’s revenue grew 37% over the previous year. Twitter stated that the Twitter impact was Apple’siOS privacy was lower than we expected during the period. It will continue to be minimal in the fourth-quarter. Snap FacebookBoth cited Apple’s iOS 14 privacy features to be the primary reason. business disruptionIn the most recent quarter.
Twitter’s Ad Revenue rose by more than 41% to $1.14Billion, and total ad Engagements increased by 6% over the previous year.
Twitter offered additional details on MoPub’s sale to AppLovinFor $1.05 billionThis deal was first announced this month, and it is scheduled to close during the first quarter in 2022. Twitter stated that it does not expect to recover the entire revenue loss of $250 million and $200 million from this deal next year.
The company said it’s expecting revenue, including the MoPub business, of $1.5 billion to $1.6 billion in the fourth quarter. According to Refinitiv, analysts were projecting average sales of $1.58 trillion.
Twitter saw an increase of 5 million daily monetizable users in the second quarter, to 211,000,000. Nearly 13% more users were added than a year earlier.
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