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Twitter records highest profit, loses a million monthly users in Q2 2018

Twitter

Twitter posted a record profit of $100 million in Q2 FY2018 in its third straight profitable quarter — which is also the third profitable quarter since it began operations 12 years ago. However, this wasn't enough to please the stock market; Twitter's share nosedived nearly 20% after it reported its financial results for the quarter, owing largely to the fact that the company lost one million monthly active users QoQ as it continues efforts to fight spam, fake accounts and improve the 'health' of the platform. Note that the million lost monthly users were American accounts. The company's executives did attempt to elevate the highlights of the quarter — Twitter posted a revenue of $711 million, and increase of 24% YoY. Remember that at the end of FY2017, Twitter's revenue stood at the highest in Twitter's history at $732 million. The company reported that its daily user count grew by 10% YoY and 1% QoQ. The company reported international (countries apart from the US) ad revenue of $308 million, up by 40% YoY. Ad revenue from US increased by a marginal 9% YoY. Focus on 'health' of platform CEO Jack Dorsey told investors that the effort to clean up the platform will “enable long-term growth as we improve the health of the public conversation on Twitter.” Twitter is positive that it has to and will "prioritize long-term health of the platform over near-term metrics." As you [an investor] point out, we do believe that our health work and focus on improving…

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