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Twitter slightly beats on earnings, grows daily users by 14%

Twitter slightly beats on earnings, grows daily users by 14%

Twitter believes that the impact of Digits' userbase on their monthly active user counts in previous years was smaller, as Digit had fewer users at the time.

Shares of Twitter soared over 18 percent on Thursday after the company reported that it expects to be profitable for the first time ever during the next fiscal quarter.

Twitter beat Wall Street's expectations for its third-quarter earnings and said it could finally turn a profit next quarter. The company has seen monthly active user figures increase, arresting the slide that it had to report across the summer.

But the company said it had overstated monthly users for the past three years.

Twitter has stepped up efforts to boost its user base and engagement, notably with video partnerships, as part of its turnaround efforts.

"This quarter we made progress in three key areas of our business: we grew our audience and engagement, made progress on a return to revenue growth, and achieved record profitability", Twitter CEO Jack Dorsey said in the October 26 press release.

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Its second quarter monthly active user total, for example, was actually around 326 million, not 328 million as originally reported. The social media company explained that the errors in counting occurred because "since the fourth quarter of 2014" it "included users of certain third-party applications" and they "should not have been considered".

These third-party applications used Digits, a software development kit of our now-divested Fabric platform, that allowed third-party.

Revenues were $590 million, a decrease of four percent from a year ago but not as bad as analysts had feared for the one-to-many messaging platform.

The earnings report also addressed Twitter's ongoing problems with harassment.

"We're committed to making Twitter safer, and we continue to improve and leverage our technology to reduce the reach of abusive tweets", Twitter CEO Jack Dorsey wrote in a letter to shareholders. "It's our job to help people stay informed about what's happening in the world and what people are talking about, and we're focused on making our service faster, easier to use, and more relevant to more people every day".

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