What you need to know
- Twitter says that tracking changes in iOS 14 have not impacted the platform as much as they expected.
- The company told investors it had issued prompts to 100% of iOS 14.5 users and made changes to offset the move.
- The company posted quarterly revenue of over $1 billion.
Twitter has told investors that the impact of tracking changes made in iOS 14 was "lower than expected".
In its quarterly earnings report, Twitter announced that it had made $1.19B in revenue, up 74% on the same period last year. The company said that this marked better-than-expected performance across all of its major products and geographics, and strong revenue helped generated better-than-expected profitability. The company says it now has 206 million monetizable daily active users.
With regard to Apple's new App Tracking Transparency measures, rolled out earlier this year, the company stated that it had issued prompts to 100% of iOS 14.5 users (or higher), and that it had extended support for SKAdNetwork's view-through attribution capabilities to its Mobile Measurement Partners, helping them to monitor the performance of opt-in versus opt-out audiences. The company stated that "these integrations allow advertisers to better measure and understand the value that Twitter delivers". Overall Twitter said the integration performed well, and that whilst it was too early to assess the long-term impact of the changes "Q2 revenue impact associated with ATT was lower than expected."
Twitter also said it has been encouraged by the early uptake of Twitter Blue and looked forward to adding more features and rolling out the service to users beyond Canada and Australia.
The company stated that looking ahead it expects revenue to outpace expenses in 2021, providing that the pandemic continues to improve and that it continues to see "modest impact" from iOS 14.5 and ATT.