Twitter is neither chirping merrily nor changing its tune. Disappointing Q2 earnings repeat the refrain from Q1. On an earnings call Tuesday (July 26), after early analyst estimates predicted revenues of $678 million, Twitter executives announced that the Q3 numbers are closer to $610 million, according to Seeking Alpha.
One positive result was the number of new monthly active users, an additional 3 million. This year-on-year increase of 1 percent for the U.S. and 4 percent globally did meet the expectations of analysts with a new total of 313 million as of 2016 Q2.
Twitter also announced a year-on-year increase in ad engagements of 226 percent, but a year-on-year decrease in the cost per ad engagement of 64 percent.
Profits of 13 cents per share were reported on revenue of $602 million, lower than the 10 cents per share on $607 million in revenue expected by analysts. That makes two quarters for which Twitter has failed to come up to snuff. Net losses were down from $137 year-on-year to $107 million.
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