Twitter's revenue rises 29% to $758 mn in Q3CY18; shares jump 17%

Total ad engagements increased 50% y-o-y and international revenue hit $335 mn -- an increase of 30% y-o-y

Twitter saw its shares surge 17 per cent after the micro-blogging platform reported revenue of $758 million in the third quarter of Calendar Year 2018, with monthly active users (MAUs) reaching 326 million.

Twitter revenue was up 29 per cent (year-over-year) and advertising revenue reached $650 million.

"We're achieving meaningful progress in our efforts to make Twitter a healthier and valuable everyday service," said Twitter's CEO Jack Dorsey in a statement late on Thursday.

"We're doing a better job detecting and removing spammy and suspicious accounts at sign-up. We're also continuing to introduce improvements that make it easier for people to follow events, topics and interests on Twitter," he added.

 

The total ad engagements increased 50 per cent (year-over-year) and international revenue hit $335 million -- an increase of 30 per cent (year-over-year).

"This quarter's strong results prove we can prioritise the long-term health of Twitter while growing the number of people who participate in the public conversation," said Dorsey.

Average daily active users (DAU) increased nine per cent year-on-year, compared to 14 per cent in the same period the previous year.

"Our third quarter results reflect our success with advertisers, delivering revenue growth of 29 per cent and better than expected growth across most products and geographies," said Ned Segal, Twitter's CFO.