As Twitter has been battered with criticism from President Donald Trump and Republicans for its content moderation practices, it still reported higher-than-expected revenue Thursday.
The company’s total revenue grew to $936 million in the third quarter, with ad revenue growing 15% to $808 million.
But that was mitigated somewhat by the company’s report of new users: 1 million. That was well short of the 20 million that it added in the second quarter, and Twitter’s stock was down nearly 15% in after-hours trading. In a call with analysts, Twitter executives suggested that the growth in the second quarter was driven by the early part of the coronavirus pandemic, with a spike in engagement levels.
Facebook Sees 22% Ad Revenue Growth As It Beats Expectations In Third Quarter
Twitter’s net income was $29 million, from $37 million in the same period a year earlier. The estimates for earnings per share had been 6 cents, but ended up being 19 cents, according to CNBC.
Subscribe to Deadline Breaking News Alerts and keep your inbox happy.