Twitter Inc’s (NYSE:TWTR) performance for the second quarter was a big win for the social network, Cory Johnson said in a discussion with Betty Liu on Bloomberg’s In the Loop, while Ben Lerer said that the company has improved how efficient their ads are.
Twitter Inc (NYSE:TWTR) recently posted better-than-expected performance for the second quarter of the year with an earnings per share of $0.02 on $312 million in revenue. That is above the $0.01 EPS the Street was expecting and is up 124% compared to the same quarter last year.
Apart from that, Twitter Inc (NYSE:TWTR) also reported 271 million monthly active users which was up 24% year over year and 6% quarter over quarter and is above the expected 267 million monthly active users.
According to Bloomberg’s Cory Johnson, this is a win for the social network. Asked what his bottom line about the company’s recent performance, the Bloomberg host said the second quarter performance is a “big win for Twitter” as they posted “great user numbers” and “they really crushed [expectations] in the user front.” Asked what people who expected bad results from the company missed, he said that the turn for the company was apparent in the first quarter of the year and can be really seen this most recent quarter.
Liu then asked Ben Lerer about his opinion about Twitter Inc’s (NYSE:TWTR) second quarter performance. The Lerer Ventures managing director said that he was surprised about the company’s user numbers.
“I guess I was surprised about the user numbers that it’s going so well. I always just use the people who I spend time with as a barometer for if a company is doing well or not. On the ad side, I knew it was doing well. We at Jackthreads were very early partners of many of Facebook’s ad products. We sort of have a good sense of what’s working and in the last months, we have been seeing success with Twitter. We have just seen efficiency in our spend there and we have been able to actually grow the amount we are spending on Twitter on a daily basis,” he said.
According to Lerer, they are “absolutely” seeing traffic being driven from Twitter Inc (NYSE:TWTR). Furthermore, he said that the effectiveness of advertising on Twitter is going “way up” even if the cost per impressions are not going up that much.
Watch the video below where Lerer answers what has changed with how their advertising is being done.