The company’s daily active users grew 1 million from the previous quarter to 187 million users; Analysts expect the company to report 195 million daily active users.
On the bright side, Twitter posted $ 936 million in revenue for the quarter, far exceeding analyst expectations of $ 777 million and up 14% year-over-year. Shares of Twitter are up about 8% during normal trading hours.
Twitter’s quarterly report comes a day after CEO Jack Dorsey appeared before the Senate Commerce Committee, along with Facebook CEO Mark Zuckerberg and Google CEO Sundar Pichai. The hearing was said to focus on a key law, called Section 230, that protects companies̵
7; ability to censor content as they see fit. But Senators pressed executives on other topics, including antitrust and voting misinformation. Dorsey has faced Republicans over why Twitter features President Trump’s fact-proven tweets and other claims of bias towards conservative content.
Twitter reported Thursday that its total ad revenue reached $ 808 million, up 15%. The company announced a year ago that it would stop all political advertising, saying that accessibility to a political message should be “earned, not bought”.
In its earnings announcement, Twitter emphasized that the health of the platform chats continues to be a top priority as it works to reduce abuse and misinformation on the platform, including. labeling false statements of victories for candidates or encouraging interference with election results or polling places.