Twitter has reported better-than-expected financial results for the third quarter 2018. The social media company reported $758 million in revenue and $106 million of earnings.
The increase was driven by its revised advertising strategy and data helping advertisers to monetise more effectively across Twitter.
Monthly active user count came in at 326 million for the quarter, slightly below the expected 330.1 million. The company had anticipated a drop in user numbers due to GDPR compliance adaptations and its continued removal of fake accounts.
“We’re achieving meaningful progress in our efforts to make Twitter a healthier and valuable everyday service,” explained Twitter CEO Jack Dorsey. “We’re doing a better job detecting and removing spammy and suspicious accounts at sign-up. We’re also continuing to introduce improvements that make it easier for people to follow events, topics and interests on Twitter, like adding support for U.S. TV shows in our new event infrastructure. This quarter’s strong results prove we can prioritize the long-term health of Twitter while growing the number of people who participate in public conversation.”
Nevertheless, revenue grew 29% the year over. Advertising revenue increased 29% to $650 million.
Anthony Capano, managing director of Europe at Rakuten Marketing added:
“[I]t’s clear that the focus has returned to investing in global opportunities for advertisers. Earlier in Q3 the platform revealed a host of content partnerships including Bloomberg, Sony Music and NBCUniversal that would bring hundreds of hours of livestreams and other videos to the platform in the Asia-Pacific region.”
“It’s important UK marketers see how relevant these opportunities are to their operation. In Britain alone, as many as 35% of our client transactions are now taking place overseas. Moreover, our recent research shows nearly two-thirds of UK marketers know their target customers outside of the UK – in particular APAC ones – are wealthier and more digitally savvy. With the digital ecosystem, particularly in social, getting busier, using not so new platforms such as Twitter that are looking to transform their business and innovate, makes complete sense. As long as it’s in brand safe environments that have the ability to reach new and global audiences, then why not test?”