Twitter is not catching a break!
Yesterday, Twitter announced its Q2 2017 results where they get to reveal their revenues, profits/losses and whether they have been growing the past three months.
Starting with the revenue numbers, Twitter earned $574 million in Q2, which sadly was a 5% decrease when compared to the number posted in Q2 2016 ($602M). Advertising revenue is still Twitter’s biggest cash cow with $489M earned in the quarter, which was a decrease of 8% YoY.
More bad news: Twitter is still not turning in a profit. The company announced a net loss of $116 million, which was an increase of 9% year-over-year. This has become “normal” with Twitter as they keep posting losses every quarter and it would be a surprise when they turn in a profit, sometime in the future.
The shocking news from the release is the fact that Twitter did not add any monthly active users in the past three months. The monthly active user base stayed at a constant 328 million, which was the same figure revealed in the last quarter, but a 5% increase when compared to the figure posted YoY. This was surprising since the company announced that they had added 9 million new monthly active users last quarter and the unexpected levelling could lead people to come up with several theories.
Other notable announcements include the fact that Twitter continued to expand their premium live video platform where in Q2, they delivered more than 1200 hours, which is over 300 hours more than Q1. Twitter’s Live Video platform reached 55 million unique viewers which was a 22% increase when compared to Q1. This is one area that is having positive growth on Twitter and there is a lot of potential in this market for the company and it is upto them to take it.