Twitter shows growth despite Apple’s privacy changes
Twitter’s user base grew 13% in the third quarter as it experimented with features to keep people on its platform. But the microblogging site suffered a loss on a one-time litigation charge even as it looked like it was changes to Apple’s mobile operating system that affected other social media companies.
Twitter has focused on authoring tools, live audio, and security features as it competes with Facebook, TikTok, and other big tech companies. The number of monetizable daily active users rose to 211 million in the third quarter. Analysts polled by Thomson Reuters expected the company to report 212.6 million daily users in the third quarter.
The focus on user experience comes as Twitter and other social media companies grapple with changes to Apple’s mobile operating system that have made it harder for advertisers to measure their campaigns . The iPhone maker recently rolled out a feature that requires users to allow apps that track their online activities. Facebook and Snap have previously said the changes weighed on their performance. Twitter, however, said the impact on its third quarter revenue and its fourth quarter guidance was smaller than expected.
Twitter announced revenues that were slightly below Wall Street’s expectations. In the third quarter, the company posted revenue of $ 1.28 billion, below expectations of $ 1.29 billion.
However, Twitter posted a loss of 54 cents per share on a $ 766 million charge related to a class action settlement.
Twitter’s revenue comes against a backdrop of social media scrutiny. Facebook, the world’s largest social media company, is the subject ofbased on leaked documents that suggest the company is aware of the damage its platforms are doing to adolescent mental health, as well as democracy and developing countries. Earlier today, a Senate subcommittee questioned executives of competitors Twitter, TikTok, YouTube and Snap, about the policies these companies have put in place to protect children.