Twitter is witnessing its highest level of growth in years.
The social media giant earned $1.19 billion in revenue during the second quarter of 2021. Analysts had predicted $1.07 billion.
Twitter’s revenue grew 74% year over year in the quarter, according to a shareholder letter, with the company citing “a broad increase in advertiser demand.” In the prior quarter, revenue had risen 28%. Growth accelerated as the company lapped a quarter when revenue declined by almost 19%, resulting in the strongest growth since 2014. After a $1.38 billion loss in the year-ago quarter, on Thursday Twitter showed a $65.6 million profit.
With respect to guidance, Twitter said it sees $1.22 billion to $1.30 billion in third-quarter revenue. Analysts polled by Refinitiv had expected $1.17 billion in revenue. For all of 2021, Twitter said that it expects headcount and total expenses to go up at least 30% and that revenue will grow faster than expenses.
“As we enter the second half of 2021, we are shipping more, learning faster, and hiring remarkable talent,” said CEO Jack Dorsey in a press release. “For example, our increased shipping cadence contributed to reaching 206 million average [monetizable daily active users] in Q2, up 11% year over year and 3% quarter over quarter. There’s a tremendous opportunity to get the whole world to use Twitter.”
Dorsey — who has donated millions to left-wing causes, such as Ibram X. Kendi’s Center for Antiracist Research — is frequently the subject of criticism for letting his own politics seep into Twitter.
In particular, users note that the platform banned President Donald Trump for allegedly inciting violence on January 6 even as they refuse to ban dictators such as Cuban President Miguel Díaz-Canel, who is currently quelling dissent in his nation through state-sanctioned violence.
As The Daily Wire’s Ian Haworth noticed:
When it came to Trump, Twitter argued that his two innocuous tweets “must be read in the context of broader events in the country” and the ways in which his statements could “be mobilized by different audiences.”
Why are they not reading Díaz-Canel’s tweets in the context of the broader events in Cuba? Why are they not judging them based on how they could be “mobilized by different audiences?”
The answer is simple: this was never about preventing violence for Twitter.