Twitter announced its second-quarter financial results of $841 million, an annual increase of nearly 18% from the $711 million reported by the social network for the same period last year.
This represents a 5% increase from the company’s $787 million in the previous quarter, with net income of $1.1 billion.
Total platform costs and expenses in the second quarter were $766 million, a 21% year-over-year increase, resulting in an operating income of $76 million.
The company increased the number of employees by 20% during the quarter, with nearly 4,300 employees at the end of June.
The company’s domestic growth is remarkable, with U.S. sales up 24 percent year-over-year, compared to 12 percent of international revenue.
Twitter reported better than expected earnings, with operating income of $76 million, following its first-ever quarterly profit last year, marking the seventh consecutive quarter.
The San Francisco-based company has moved away from the monthly active user numbers.
Instead, it focused on what it calls the daily active users earning income, which jumped to $139 million – up 14 percent year-over-year and 4 percent higher than the previous quarter.
The 17 million active daily users with income over the past 12 months have distributed between 3 million users in the United States and 14 million international users.
The number of active daily users earning revenue in the United States was 29 million during the quarter, a 10% increase from the previous year.
The number of active daily users with international revenues reached 110 million during the quarter, a 15% increase over the previous year.
Wall Street analysts estimated Twitter’s second-quarter revenue at $829 million, while the company estimated its second-quarter revenue at between $770 million and $830 million.
Today’s figures exceeded all estimates, and Twitter reported that total advertising revenues reached $727 million during the quarter, up 21 percent.
U.S. advertising revenue is the main driver of the site, which increased 29 percent from 26 percent in the previous quarter, the platform said.
Twitter expects revenue growth to decline in the third quarter of 2019, with forecasts ranging from $815 million to $875 million.