Twitter has announced its latest report for the first quarter of this year. It highlights an additional 12 million more daily active users and a 28% increase in revenue for Q1 2021 year-on-year.
The social network now has 199 million monetizable Daily Active Users (mDAU). It has regained momentum after a slowdown in Q4 2020.
Twitter says its rise in usage was due to global conversations on current events and ongoing product improvements.
In India, Twitter has been clashing with Indian authorities since 2020 over the government’s attempt to censor its content.
Yet, the growth is positive. It will help Twitter start a more stable, enduring business, as more brands connect with users in different markets.
Twitter raked in $1.04 billion in revenue for Q1 this year. This is up by 28% from the same quarter last year.
Twitter says advertiser demand and Mobile App Promotion (MAP) revenue were strong over the quarter.
“While it is still too early to understand the full impact of Apple’s iOS 14.5 changes, our integration with SKAdNetwork has allowed us to reach a new audience, increasing the total number of iOS devices to which we can advertise with MAP ads by 30% while maintaining cost-per-install performance,” says Twitter.
Twitter says its expenses for research and development grew by 25% to $251 million. The reason was primarily due to higher personnel costs, investing in engineering, product, design, and research.
The social network also says it now has more than 6,100 employees worldwide. This is 20% higher in overall staffing from the same period last year.
Twitter Topics has seen decent reception among new users. It helps guide them to relevant tweet content.
“During sign-up, customers can now choose Topics to follow from a dynamic list of what’s most popular – an improvement that led to 33% of new customers following Topics during sign-up in Q1,” says Twitter.
Twitter has more than 7,000 Topic options, with support of nine languages and expanding.
Twitter notes it has broadened its video content with live, on-demand clips. It includes highlights and short videos from news, sports, gaming, entertainment, and politics.
The company has advised of unstable performance comparisons moving forward.
“Looking ahead, the significant pandemic-related surge we saw last year creates challenging comps, and may lead to mDAU growth rates in the low double digits on a year-over-year basis in Q2, Q3, and Q4, with the low point in terms of growth likely in Q2,” says Twitter.
The numbers also show the Trump effect on Twitter was an overstatement.