Twitter announced on Tuesday that its quarterly revenue increased by 37%, and avoided the impact of Apple’s privacy changes in advertising that hindered its competitors, resulting in a 3% increase in its stock price.
The social networking site has been working hard to add new features, such as audio chat rooms to attract users, and improve its advertising features to achieve the goal of doubling annual revenue by 2023. For the quarter ended September 30, advertising revenue was US$1.14 billion (approximately Rs 85.5 billion), in line with market consensus.
The company said that due to the privacy changes introduced by Apple, it had a “modest” impact on advertising revenue, which would prevent advertisers from tracking users on their devices without their consent. Investors had expected Twitter to be relatively immune to these changes, because most of its advertisers did not rely on highly targeted advertising.
As the San Francisco-based company strives to expand its targeted advertising business, it is introducing more features, such as topics that users can follow on Twitter. Twitter’s chief financial officer, Ned Segal, said in a conference call with analysts that these features provide data about people’s interests, which can ultimately be used to help provide relevant advertising.
News Source : Gadgets 360
