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Twitter earns 55.8 million in the second quarter

2021-07-23T15:37:24.331Z

The social network of short messages leaves behind the heavy losses of a year ago, when its income statement showed a negative balance of almost 1,171 million



A user clicks on the Twitter application on a mobile phone, in a file image DADO RUVIC / Reuters

The technology company Twitter, owner of the social network of the same name, recorded a net profit of 65.6 million dollars (55.8 million euros) in the second quarter of 2021, compared to losses of 1,378 million (1,171 million euros) from the same period last year, as reported by the company late on Thursday (early this Friday in Spain).

The income of the American firm experienced an increase of 74.1% compared to a year ago, reaching 1,190.4 million (1,011.7 million euros), mainly thanks to the growth of the income obtained from advertising. 1,053 million dollars, 87.4% more.

The sale of data brought him 137 million dollars (+ 13%).

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In the chapter on costs, those associated with income were 416.9 million dollars, 44.8% more.

Selling and

marketing

expenses grew slightly more

(

301.9 million, 45.6% more), while general and administrative expenses contracted 42.5%, to 141.5 million dollars.

The research and development item of the technology company was close to 300 million.

According to the information sent by the company after the closing of the US markets, the average number of daily monetizable users on its social network during the second quarter was 206 million, 10.8% more than between April and June 2020. Of that number, 37 million were in the US, its largest market.

Advancement of subscription models

The firm stands out in the accounts that during the quarter it has adapted new functionalities to increase its direct income from users. Thus, new monetization features have been included such as tips for users, spaces with tickets and the so-called

super follows

, a subscription system that began to be tested in the US and gives access to some exclusive content. For now, for the rest of the year, the goal is to expand Twitter Blue, another subscription model that until now is only available in Canada and Australia and that adds some functionality. For example, to undo the sending of a tweet up to 30 seconds after having shared it.

In the first six months of 2021, Twitter posted a net profit of $ 133.7 million (€ 113.6 million), compared to losses of $ 1,386.4 million ($ 1,178.2 million). euros) in the first half of last year. Turnover grew by 49.3% to 2,226.4 million dollars.

Source: elparis

All business articles on 2021-07-23

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