NEW YORK – Twitter announced on Friday that its net income in the second quarter of 2019 was $1.1 billion.
It also stated that the new measure of its user numbers, monetizable daily active users, was 139 million, compared to 122 million in the same period last year.
The surge in profit was thanks to a significant tax benefit and growth of advertising revenue, especially in the United States.
The social media company, based in San Francisco, California, said it had a significant tax benefit in the second quarter, which is related to the establishment of deferred taxes for its corporate structure in certain geographic markets.
Twitter reported that its adjusted net income was $37 million.
In the same period last year, it reported a net income of $100 million and an adjusted net income of $58 million.
The company’s revenue totaled $841 million, with US revenue amounting to $455 million and international revenue at $386 million.
Advertising revenue accounted for $727 million, an increase of 21% supported by the strength of video ad formats, while licenses accounted for approximately one seventh.
The company noted that it has a new variable to measure active users for their “monetizable daily use” of the social network for which there was a 14% increase compared to the same period of the previous year.
CEO Jack Dorsey said “health” is a top priority on the site following a series of crackdowns on malicious behavior earlier this year.
“Our focus was on ensuring that our rules, and how we enforce them, are easy to understand,” he added.
“We also continued our work to proactively identify and address malicious behavior, resulting in an 18% drop in reports of spammy or suspicious behavior across all Tweet detail pages, which show the replies to any given Tweet on our service.
“In addition, we continued to leverage machine learning to deliver more relevant content, driving increased usage of Twitter on a daily basis.”
Ned Segal, Twitter’s CFO, said: “Focusing on our most important ad products and delivering high performing ads will help advertisers launch something new and connect with what’s happening on Twitter.”