Twitter Inc reported its highest-ever yearly growth of daily users who can view ads, beating analysts' estimates on usage and sending its shares up 6per cent in pre-market trading on Thursday.
But even as current events prompted advertisers to pull back, people continued to flock to Twitter to discuss them. Twitter's average monetizable daily active users increased 34per cent year over year to 186 million, above analysts' target of 176 million. Twitter reported a second-quarter loss of US$1.2 billion, largely driven by the reversal of a tax benefit established last year, when the company transferred intellectual property to Ireland. Because of the second quarter's steep coronavirus-related losses, Twitter did not make enough money to take advantage of the tax benefit.
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