It exceeded the expectations of analysts, who estimated sales at $ 1.07 billion. The company’s shares strengthened significantly after the publication of the results.
Twitter is now working to increase the effectiveness of its advertising, in which it has traditionally lagged behind larger competitors such as Facebook.
According to the company, these efforts, along with higher demand from advertisers, have helped grow advertising revenue, which is a key part of the company’s revenue, Reuters reported. Advertising revenue increased 87 percent to $ 1.05 billion in the second quarter.
Twitter also announced on Thursday that it had gained seven million new users in the second quarter. The total number of daily users of its network thus climbed to 206 million, the Bloomberg agency wrote.
The company also predicted total revenue of $ 1.22 billion to $ 1.3 billion in the third quarter.
Analysts previously estimated third-quarter revenue to average only $ 1.17 billion. According to the CNBC server, the company’s shares gained up to nine percent in response to the result report.