INSUBCONTINENT EXCLUSIVE:
Twitter rolled out improvements to its advertising capabilities to reach its goal of doubling revenue.New Delhi: Twitter Inc on Tuesday
reported its quarterly revenue grew 37% and avoided the brunt of Apple Inc privacy changes on advertising that hobbled its rivals, sending
The social networking site has been working to add new features such as audio chat rooms to attract users, and also rolled out improvements
to its advertising capabilities to reach its goal of doubling annual revenue by 2023.Advertising revenue was $1.14 billion during the
quarter ended September 30, in line with consensus estimates
The company said it saw a "modest" impact to ad revenue due to privacy changes Apple rolled out, which prevent advertisers from tracking
users on their devices without their consent.Investors had expected Twitter would be relatively shielded from being hurt by the changes,
because most of its advertisers do not rely on highly targeted ads
As the San Francisco-based company works to expand its targeted advertising business, it is introducing more features like topics that users
can follow on Twitter.Those features provide data on people's interests that can eventually be used to help deliver relevant ads, said
Twitter Chief Financial Officer Ned Segal, during a conference call with analysts."A lot of this is opportunity that's in front of us," he
Twitter's tech peers Snap and Facebook said the Apple changes hurt their ability to target and measure digital ads, citing the updates as
the reason why the companies fell short of revenue expectations.Twitter said monetizable daily active users, its term for users who are
served ads, was 211 million during the third quarter, missing analyst estimates of 212.6 million, according to IBES data from Refinitiv
While Twitter increased its number of users outside the United States by 5 million from the previous quarter, its U.S
base remained flat.Total revenue, which also includes money that Twitter earns from data licensing, was $1.28 billion, also in line with
Wall Street targets.Twitter said its costs this year from hiring and investing in a new data center will flow into next year, resulting in a
mid-20% increase in total costs for 2022.The company forecast fourth quarter revenue between $1.5 billion to $1.6 billion
Twitter previously announced it would sell its advertising technology unit MoPub, and the deal is expected to close in the first quarter of
2022.The company said it does not expect to be able to recoup the revenue loss next year from selling MoPub, estimated between $200 million
to $250 million, though it added the sale does not affect Twitter's goal of doubling annual revenue by 2023.(This story has not been edited
by TheIndianSubcontinent staff and is auto-generated from a syndicated feed.)
