SAN FRANCISCO: Twitter Inc on Thursday reported its highest-ever yearly growth of daily users who can view ads, beating analysts' estimates on usage and sending its shares up 4per cent.
Chief Executive Jack Dorsey opened a conference call with analysts by apologizing for the hack that compromised the accounts of high-profile users last week, saying"we feel terrible." In a statement, Dorsey said Twitter had taken steps to improve its security and"resiliency against targeted social engineering attempts."
On the conference call, Chief Financial Officer Ned Segal declined to give details about the impact of a July social media advertising boycott that was intially focused on Facebook but spread to other platforms. Dorsey said Twitter's actions to protect conversations on the platform were being noted by advertisers.
Adjusted to exclude the tax considerations, the company incurred a loss of US$127 million, or 16 cents per share, roughly in line with analyst expectations of a US$125 million loss. It had an adjusted profit last year of US$37 million.
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