Twitter Reports 9% Rise In Q3 Financials

9% Rise In Q3 Financials

TWITTER reported a 37% year-over-year revenue increase to $1.28 billion for third quarter 2021, with advertising revenue up 41% to $1.14 billion. The numbers also exceeded 2019's $824 billion in overall revenue and $702 million in ad revenue. The company recorded a net loss of $537 million (-67 cents/diluted share), falling from net income of $29 million (4 cents/diluted share) in third quarter 2020 and $37 million (5 cents/diluted share) in 2019, but 2021's number included a one-time litigation charge of $766 million from the settlement of a class-action shareholder lawsuit.

"I am proud of our third quarter results. We're improving personalization, facilitating conversation, delivering relevant news, and finding new ways to help people get paid on TWITTER," said CEO JACK DORSEY, who recently drew controversy by predicting a period of hyperinflation in the U.S. economy. "Average monetizable DAU (mDAU) reached 211 million, up 13% year over year in Q3, accelerating from 11% year over year growth in Q2, driven by ongoing product improvements and global conversation around current events."

"Our focus is paying off, and we are pleased with our performance in the third quarter, with revenue up 37% year-over-year, reflecting strength across all major products and geographies," said CFO NED SRGAL. "We continued to drive increased value for our advertisers thanks to revenue product innovation, including progress on our brand and direct response offerings, strong sales execution, and a broad increase in advertiser demand. These factors contributed to 41% year-over-year growth in ad revenue in Q3."

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