Twitter is in a rather strange situation: the COVID-19 pandemic has caused a steep surge in active users, but at the same time protests over police violence and racial discrimination in the United States have caused an advertisers hemorrhage, eroding hence the profits of the platform. In the midst of all this, there was the colossal hacker attack that allowed a group of well-organized hackers to conduct a Bitcoin-based scam by impersonating several famous accounts (including Bill Gates and Elon Musk).
Let's start with the good news, users. According to the quarterly tax report released just a few hours ago, the company has reached the beauty of 188 million mDAU, or Monetizable Daily Active Users. There are 22 million more than there were in April, and an increase of 34% compared to the previous year. An absolute record for the platform.
Despite this, the turnover dropped to just $ 683 million, 19% less than in the same period of the previous year. The problem is that the expenses were equal to 807 million dollars; in other words, the company lost $ 124 million. In the previous quarter, things had gone Thank god, and the loss amounted to only 7 million. Twitter says that the main cause of this drop in turnover is to be found precisely in the US protest movements, which also involved some large companies (we talked about it on Facebook, but the dynamics are the same).
But it is likely that the pandemic itself also played a determining role. Although some companies, like Microsoft, have made a lot of gains from lockdowns, for many others, business has gone in the opposite direction – if not worse – and therefore have reduced their marketing budgets.
Meanwhile, Twitter takes this opportunity to announce some more details about the consequences of the hacker attack we were talking about earlier, which has already attracted the attention of the FBI and has yielded more than $ 100,000 in BTC to the attackers. Apparently, during the attack the hackers managed to access the DMs, or private messages, of 36 accounts. The company did not say which, merely confirming "an elected Dutch politician" and no one else.
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