Twitter swung to $66 million net profit in the second quarter, compared with a $1.38 billion loss during the same period a year ago as the company's revenue grew the most since 2014.
The company’s total revenue surged 74 per cent year on year to $1.19bn, exceeding analysts' estimate of $1.07bn.
The average number of users who can view ads reached 206 million, an almost 10.7 per cent annual rise from the second quarter a year earlier. But it was almost 200,000 less than what was forecast by analysts polled by StreetAccount.
Revenue from the US market totalled $653m, an annual increase of 79 per cent, while international sales were $537m, up by almost 70 per cent.
Advertising revenue surged and the number of daily active users who can view advertisements grew 11 per cent,. Ad revenue was about $2m less than the previous quarter, which ended on March 31.
“As we enter the second half of 2021, we are shipping more, learning faster and hiring remarkable talent," said Jack Dorsey, chief executive of the microblogging site based in San Francisco.
"There's a tremendous opportunity to get the whole world to use Twitter."
Advertising sales for the second quarter surged 87 per cent from the same period a year ago to $1.05bn.
Total ad engagements increased 32 per cent yearly and cost for each engagement soared almost 42 per cent annually, the company said without disclosing the exact numbers.
Twitter’s revenue from data licensing and other streams totalled $137m, an increase of 13 per cent year on year.
The costs and expenses in the April-June period totalled $1.16bn, an increase of 21 per cent on an annual basis.
This resulted in an operating income of $30m against a loss of $274m in the same period last year.
“We delivered better-than-expected performance across all major products and geographies while growing our audience,” said Ned Segal, Twitter's chief financial officer.
“We continued to make significant progress on our direct response and brand products with updated ad formats, improved measurement and better prediction.
"We are driving more value for advertisers with our strong push into performance-based advertising and expanded offerings for small and medium-sized businesses."
Net cash provided by operating activities in the quarter was $382m, compared to $201m in the same period last year.
Capital expenditure in the quarter rose more than 70 per cent to $276m, driven by infrastructure investments in data centres to support audience growth and product innovation.
In its guidance for the current quarter ending on September 30, Twitter expects to earn revenue between of $1.2bn and $1.3bn.
“We continue to expect total revenue to grow faster than expenses in 2021," the company said.
"We now expect headcount, along with total costs and expenses, to grow 30 per cent or more for the full year of 2021 with a focus on engineering and product."
Twitter’s spending on research and development grew 39 per cent to $300m in the quarter. It was primarily focused on engineering, product design and research.
The company ended the quarter with about $8.61bn in cash, cash equivalents and marketable securities.
It also bought back almost $334m of stock during the second quarter through its share repurchase programme announced last year, bringing the company’s total repurchase to $746m to date.
“Our pace in future quarters may vary based on the operating environment, our capital needs and market conditions,” the company said in a letter to its shareholders.
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
The%20specs
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How Alia's experiment will help humans get to Mars
Alia’s winning experiment examined how genes might change under the stresses caused by being in space, such as cosmic radiation and microgravity.
Her samples were placed in a machine on board the International Space Station. called a miniPCR thermal cycler, which can copy DNA multiple times.
After the samples were examined on return to Earth, scientists were able to successfully detect changes caused by being in space in the way DNA transmits instructions through proteins and other molecules in living organisms.
Although Alia’s samples were taken from nematode worms, the results have much bigger long term applications, especially for human space flight and long term missions, such as to Mars.
It also means that the first DNA experiments using human genomes can now be carried out on the ISS.
DSC Eagles 23 Dubai Hurricanes 36
Eagles
Tries: Bright, O’Driscoll
Cons: Carey 2
Pens: Carey 3
Hurricanes
Tries: Knight 2, Lewis, Finck, Powell, Perry
Cons: Powell 3
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
THE BIO
Bio Box
Role Model: Sheikh Zayed, God bless his soul
Favorite book: Zayed Biography of the leader
Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet
Favorite food: seafood
Favorite place to travel: Lebanon
Favorite movie: Braveheart
COMPANY%20PROFILE
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Fixtures
50-over match
UAE v Lancashire, starts at 10am
Champion County match
MCC v Surrey, four-day match, starting on Sunday, March 24, play starts at 10am
Both matches are at ICC Academy, Dubai Sports City. Admission is free.
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Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Brief scores:
Toss: Northern Warriors, elected to field first
Bengal Tigers 130-1 (10 ov)
Roy 60 not out, Rutherford 47 not out
Northern Warriors 94-7 (10 ov)
Simmons 44; Yamin 4-4
