Twitter Revenue Tops $500 Million In Second Quarter
Tuesday’s quarterly earnings release was the first for Twitter since co-founder Jack Dorsey returned to the company as interim CEO at the beginning of the month. And it was a good one for Dorsey.
Twitter’s revenue for the second quarter was $502 million, well above analysts’ expectations of $482 million. The company’s revenue jumped 61% from last year.
It was a steep jump, but the company’s revenue growth rate is declining. In the first quarter, revenue grew 74%.
Twitter’s earnings per share, adjusted for the cost of paying employees with stock and some other expenses, was 21 cents, while analysts expected 4 cents. Its adjusted profit was $48.5 million, up from $14.6 million a year ago.
Twitter said the “vast majority” of new users were people who only use the service through text messaging, a category it only recently started counting in its public user numbers. Without those SMS users, the user count was 304 million, up 12% from a year ago and only up by 2 million from the last quarter.
Conigliaro Take: I think That Twitter should keep it's CEO. He knows tweeting better that anyone! (Including yours truly) If it isn't broke don't fix it!
david Conigliaro HOW TO BLOW UP YOUR INCOME!
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