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Twitter reported adjusted earnings per share of 20 cents against 7 cents expected by analysts according to a poll by Refinitiv.
Twitter Inc (NYSE: TWTR) stock experienced a bump of nearly 9% during Thursday’s extended trading hours after the company reported its second-quarter earnings. Twitter stock was trading with a gain of over 5% at around $73.50 as of Jul 22, 2021, 7:59 p.m. EDT according to market analytics provided by MarketWatch. The spike has been attributed to the Twitter Q2 2021 earnings results that beat analysts’ expectations.
Twitter Q2 Results and Future Market Prospects
Notably, Twitter reported adjusted earnings per share of 20 cents against 7 cents expected by analysts according to a poll by Refinitiv. Additionally, the giant social media platform recorded a revenue of $1.19 billion versus $1.07 billion expected by analysts according to a survey conducted by Refinitiv.
During the last three months of the first half of 2021, Twitter said that monetizable daily active users (mDAUs) were 206 million versus 206.2 million expected by analysts according to a survey by StreetAccount.
Worth noting, the firm recorded a profit of $65.6 million against a $1.38 billion loss during the second quarter of 2020. Twitter has morphed significantly through the pandemic and now offers more relatable services to its customers.
During Q2, Twitter introduced its first subscription service that enables users to undo a tweet. Additionally, the firm introduced its audio chat feature and also a tip jar feature that has seen more users enjoy during the pandemic.
If the creator is creating great content, and you see it in Super Follows, or it’s just a tweet and somebody puts money in their Tip Jar, or it’s long-form content that we include in a different price point for a subscription, without ads, that complements it with other features that come from us, then we would make sure that part of the value that can be attributed to the creator where those dollars go to them and that we’re facilitating a transaction,” Ned Segal, Twitter’s finance chief, said on a conference call with analysts.
Forward, the company is optimistic the numbers will keep on rising beyond analysts’ expectations. According to the guidance provided by the company during the earnings call, Twitter estimated a revenue of $1.22 billion to $1.30 billion during the third quarter. Notably, according to a survey by Refinitiv, Wall Street analysts had a forecast of $1.17 billion in revenue for the social media platform during the third quarter.
Worth noting, the company said that it expects its revenues to grow much faster than its expenses during the fiscal year 2021.