Twitter Inc. exceeded second-quarter expectations and earned revenue that mirrors the company’s recent user expansion and growth. According to Fox Business, Twitter now has nearly 271 monthly active users, and this positively reflects its 124-percent increase in revenue when compared with the same quarter last year.
This upsurge in users led to revenue of $312 million, which outshines Thomson Reuters’s predicted $283 million income for the social media network, according to Fox Business.
“Our strong financial and operating results for the second quarter show the continued momentum of our business. 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,” said CEO of Twitter Dick Costolo in a press release.
As Twitter reached 60 million accounts in the United States alone, it is becoming better suited to compete with rival Facebook Inc. for active users. “Our total audience and reach represent a significant opportunity,” said Cotolo, according to Baltimore Sun.
A vast amount of Twitter’s reach is due in part to mobile marketing that has expanded its parameters in order to reach a younger generation. Fox Business reported that mobile advertising was responsible for 81 percent of the $277 million total ad revenue.
“I don’t think there’s much of a question of whether it’s good platform for advertisers. I think investors want to know how big can Twitter get,” Raymond James analyst Aaron Kessler told Baltimore Sun.
There is no doubt that Twitter has reached an impressive growth spurt, and as far as most are concerned, the social network’s recent involvement in the media has sparked a promising future.
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