Twitter recently been attacked by hackers and this was the main news about the company. But let’s take a look in what’s going on with company’s finance as well as business strategy.
Key development in Twitter:
- Hackers attack on accounts with big followers number.
- 4100 Topics to help users to find relative content (50 million accounts follow Topics).
- Launched Lists (a curated group of Twitter accounts) related to users interests.
- Option to Tweet with users voice.
- Option to video Tweet in some countries.
- Option to see all Retweets.
- Virtual documentary (on Michael Jordan), live streaming concerts (#TogetherAtHome), sport events, etc.
- Curation of coronavirus related misinformation.
- 160 million users visited covid-19 curated page over 2B times in aggregate.
- Completed ad server rebuild and ad ranking algorithm.
- Total revenue was $683 million in Q2. US revenue was $365 million, international revenue was $319 million. Total advertising revenue was $562 million. Data licensing and other revenue was $121 million. Total expenses was $807 million. Company incurred an operating loss of $124 million.
Twitter’s operating loss because of covid-19 pandemic. The main revenue source is advertisements, during the pandemic most companies reduced ad budget. In order to secure more revenue from different sources Twitter developing subscription service.
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