Noto said that viewership of the company's live programming was up 22% and that users tweeted a lot more about events when they could watch footage of them on Twitter. Revenue fell 4.7 percent to $573.9 million, beating Wall Street's estimate of $537.2 million, but the company reported a net loss of $116.5 million, or 16 cents a share.
Twitter's monthly active users remains stagnant at 328 million.
Twitter's latest round of financials isn't looking all that hot.
Shares of Twitter fell more than 10 percent to $17.63 in premarket trading on Thursday.
After boosting its monthly user base by 9 million in the first three months of the year, Twitter's MAUs remained unchanged in Q2 (but increased 5% from the year prior). Twitter's monthly active user growth certainly looks bad. These are staggering metrics in the scope of Twitter, which isn't really trying to be Facebook - and wants to be judged on something differently.
The biggest surprise is the flat overall growth, since it would have been reasonable to expect that the Trump effect would have helped the company. "We don't have data that will explain a causal impact to that", Noto said. "We consider its user base to have plateaued", he added.
The company is regularly referring to double-digit growth in its DAU count year-over-year and that it is stressing DAUs as one of its most important focuses. The shares tumbled the most in nine months, even as quarterly revenue topped analysts' projections.
Advert engagement in the industry grew 95 percent year-on-year in the second quarter. Twitter also believes that its long-term effective GAAP tax rate will be lower than the US statutory tax rate based upon its established tax structure.
There were some bright spots, however, in Twitter's earnings. Ten analysts surveyed by Zacks expected $536.8 million. Analysts had projected $568 million.
Twitter shares, unsurprisingly, have dropped in the time since this financial report was delivered.
Twitter experienced a net loss of $116.5 million in the second quarter, greater than the $107.2 million it lost in the same quarter a year ago. Dorsey claims Twitter landed "a significant number" of new enterprise licensing deals in Q2, aided by revamped product-tiering and channel sales strategies.
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