Twitter has shown good progress in monetisation in its second quarter 2015 results, but its interim CEO Jack Dorsey said growth in audience was not up to scratch.
Revenue increased 62% to $502m in Q2, compared to $312m for the same period last year. Advertising revenue totaled $452m, an increase of 63% year-over-year.
Net loss narrowed to $136.7m, or $0.21 diluted loss per share, from $144.6m, or $0.24 diluted loss per share, in the year-ago period.
Average monthly active users (MAUs) were 316 million for Q2, up 15% year-over-year, compared to 308 million in the earlier quarter.
The company said the vast majority of MAUs added in the quarter on a sequential basis came from SMS fast followers.
Twitter formed a partnership with Google’s DoubleClick platform to enhance advertising performance measurement and attribution for its direct response marketers.
Twitter interim CEO Jack Dorsey said: "Our Q2 results show good progress in monetisation, but we are not satisfied with our growth in audience.
"In order to realize Twitter’s full potential, we must improve in three key areas: ensure more disciplined execution, simplify our service to deliver Twitter’s value faster, and better communicate that value."
Twitter expects its third-quarter revenue to be in the range of $545m to $560m.
