Twitter has noticed considerably the effects of COVID-19 during the second quarter of the year. The social network, which has just presented the results for the second quarter of the year, has experienced a considerable increase in users, given the growth in Internet use motivated by confinement, but at the same time, a drastic decrease in its income.
As for the number of daily users, Twitter now exceeds 186 million. The company has offered only this figure for a year, instead of monthly active users, as other networks like Facebook do, considering that these are the “monetizable” users. The figure of 186 million is very good, in fact, the best in the history of the company, and represents a growth of 34% compared to the data handled by the platform just a year ago.
In addition, it supposes to beat the most optimistic forecasts of the analysts, who had indicated a possible growth of up to 176 million users. We must also remember that Twitter had closed the first quarter of the year with 166 million users, which means that it has added 20 million users a day.
This growth allows you to cut distances with Snapchat, which already has 238 million daily users, as reported yesterday. In the last quarter, Snapchat added 9 million daily users, while Twitter doubled that number and exceeded it, reaching 20 million daily users.
In any case, the growth in the number of users has not prevented the collapse of the company’s income, caused by the economic situation experienced after the COVID-19 pandemic. For example, ad sales, which make up 82% of Twitter’s total revenue, have plunged 23% to $ 562 million. Twitter accounts in this regard have fallen far short of what analysts expected.
Total revenue stood at $ 683 million during the quarter, representing a 19% decrease from the same period last year. With these figures, Twitter reports losses of 1,200 million dollars during the second quarter of the year.