Twitter reported an 8% growth in total ad revenues to get to $702 million during 2019’s Q3, falling short of $756 million estimates.
Total revenues increase 9% to $824 million, with the US making $465 million a 10% increase from the year before.
Twitter explained away the results as a problem with product issues.
Ad revenue also suffered from a low season. The holiday period is expected to increase ad gains.
The cost-per-engagement decreased by 12% in Q3.
‘From the standpoint of the advertiser, Twitter is more relevant now than ever,’ said the chief marketing officer at 4C Insights.
‘The platform offers an opportunity to associate brands with news and culture in a timely fashion. Marketers using 4C tools can manage their Twitter ads to up their budgets. Q3 grew by 50%. Brands now lean into video on Twitter, with over 80% of the ad spend going to video for its ability to drive engagement.’
Monetizable daily active users grew 17% to 145 million.
‘We drove growth in mDAU up to 17% by constantly improving our products. We continue to improve relevance as we test ways to make it easier for people to get what they search for on Twitter,’ said the CEO, Jack Dorsey.
‘We are still progressing on health and improving how we proactively identify and remove harmful content. Over 50% of tweets flagged for abusive content in Q3 were taken down.’