The latest batch of earning reports are flying in today and Twitter (TWTR) finds itself among the crowd of companies talking about profit and loss. Today the social media giant released its Q3 2021 earnings results. And while other social media companies like Facebook (FB) have reported a loss of revenue from Apple's recent changes to their iOS privacy options, it seems that it did not have as much of an impact on Twitter's bottom line.
Earlier this year Apple announced that it would be giving its customers more privacy options when using its devices as part of its iOS 14 update. This means that apps that had been scraping user data on the backend to gather consumer information for sale to third parties were not able to gather as much sellable info as they had previously been doing.
While it was a major thorn in the side of Facebook and Instagram, it would seem that Twitter was able to retain its viability despite the iOS 14 update. In their Q3 2021 earnings results posted today, Twitter claimed that the update had little to no effect on their bottom line and that it shouldn’t have much effect on Q4 earnings either. In fact, Twitter’s monetizable daily users ended up growing by 5 million in the last quarter by 211 million, which is about 13% up from last year. Revenue also grew 37 percent in the last quarter, adding a massive $1.284 billion in profits.
This information comes directly from Twitter’s own Q3 2021 earnings report. And while the company’s revenue percentage has grown, it wasn’t all good news for the blue bird of social media. Twitter also reported a one-time $809.5 million payout thanks to a consolidated class action lawsuit. Beyond that though, it looks like Q3 2021 was mostly clear skies for Twitter.
Blake Morse posted a new article, Twitter (TWTR) says Apple iOS app-tracking privacy changes had minimal effect
Don’t people have to opt in to those new features , also known as opting OUT of twitter and facebooks aggressive tracking?
I can’t remember what the defaults are