Twitter reported its second-quarter-2016 financial results Tuesday, and Wall Street was far from overwhelmed.
The social network posted revenue of $602 million, up 20 percent compared with the second quarter of 2015, with ad revenue of $535 million up 18 percent year-over-year. Mobile ad revenue represented 89 percent of total ad revenue.
The company?s generally accepted accounting principles net loss for the second quarter was $107 million, down from $137 million in the year-earlier period.
Twitter reported 313 million monthly active users at the end of the second quarter of 2016, up from 310 million at the end of the first quarter and up 3 percent year-over-year. The company said mobile MAUs represented 82 percent of total MAUs.
An earnings call was held after market close Tuesday, and highlights follow, along with content from Twitter?s letter to shareholders, which was also released after market close Tuesday.
Product overview
Twitter highlighted the changes it introduced to its Timeline during the first quarter of the year, moving from chronological to algorithm-based, as well as tweaks to how users can express themselves in tweets, including the introduction of stickers. The company said in the shareholder letter:
We?re seeing continued good results from the enhanced timeline launched in Q1, which helps people catch up on the best tweets from the people they follow. It drove increased retention and engagement (tweets, retweets, replies and likes) in Q2, and we ex...