Twitter reports Q3 loss after settling legal issue
Twitter reported an operating loss of USD 743 million for Q3 referring it to a one-time litigation-related net charge of USD 766 million as well as ongoing investments. The company was in 2015 accused of misleading investors concerning user engagement.
Despite this one-off, quarterly revenue was USD 1.28 billion, up 37% year-over-year. The company said this is ”reflecting strong performance across all major products and geographies”.
Adjusted operating income, which excludes the one-time litigation-related net charge, was USD 23 million.
US total sales were up 45% to USD 742 million and ad sales up 51% with commentators noting that Twitter has not been badly hit by Apple´s new privacy settings for ad targeting on iPhones that Facebook warned about in its Q3 report.
”In Q3, we continued making Twitter the best place for people to keep up with and discuss their interests. 230 million accounts now follow at least one Topic, and we added more than 2,300 Topics in Q3, bringing the total number of Topics that people can follow up to 11,800 across 11 languages”, the company said in a letter to shareholders.
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