Twitter pulls an Amazon: blows out revenue in Q2 report, but losses grow, too
Ad dollars grow 129 percent in quarter, and 80+ percent came from mobile, stock up in after hours trading
The social media company Twitter Inc. reported its second quarter earnings and reported amazing revenue growth. Q2 revenue grew 124 percent to $312.2 million, up from $139.3 million in the same quarter of last year.
Now the bad news: losses grew, as well. Twitter reported a $144.6 million loss in Q2, way up from its loss of $42.2 million loss a year ago.
If publishers want to know where their ad dollars are going, look no further than Facebook and Twitter. Twitter reported $277 million in ad dollars in Q2, a 129 percent increase over the prior year.
Mobile advertising accounted for 81 percent of total ad dollars, by the way.
“Our strong financial and operating results for the second quarter show the continued momentum of our business,” said Dick Costolo, CEO of Twitter. “We remain focused on driving increased user growth and engagement, and by developing new product experiences, like the one we built around the World Cup, we believe we can extend Twitter’s appeal to an even broader audience.”
Twitter, unlike Amazon, is less mature, so investors are less likely to punish the stock for its losses. Indeed, the stock is up sharply in after hours trading.