Twitter made an adjusted $0.07 per share on revenue of $502 million in its second quarter, going against the expectation of investors, who thought the company would be earning a mere $0.04 adjusted per-share profit on the back of $481.28 million in revenue.
The micro blogging platform confirmed that its monthly active user count has jumped to 316 million. In the preceding quarter, Twitter had 302 million monthly active users, a figure up from 288 million during its fourth quarter.
The key driver of Twitter’s revenue is mobile. As per the company, 88% of its advertising revenue comes through mobile, an amount almost $398 million.
After its financial beat, shares of Twitter have gone up to around 5 % in after-hours trading. After a strong day, Twitter ended its quarter with $3.6 billion in cash and equivalents.
The company is expecting its revenue between $545 and $560 million in its current quarter, generating a very adjusted EBITDA of between $110 and $115 million in the same three month period. Investors expect, at currently tally, $555.78 million in third-quarter revenue, reports Tech Crunch.
Over all ,Twitter is comfortably placed in terms of revenue and profit at the moment. However, its slow user growth is a matter of concern for the company. In fact, the company has declared that it is “not satisfied with [its] growth in audience.”