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Twitter CFO Talks Q2 Earnings, Security Breach: 'More Work In Front Of Us'

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Twitter CFO Talks Q2 Earnings, Security Breach: 'More Work In Front Of Us'

Twitter Inc (NYSE: TWTR) reported second-quarter results Thursday morning, highlighted by 34% monthly daily active user (mDAU) growth. This implies more than 45 million people are using Twitter today compared to last year, CFO Ned Segal said on CNBC.

MDAU Growth: Despite record mDAU growth, Segald said Twitter still has "work to do" in growing revenue. The company showed progress in the second quarter, including improving measurement for advertisers, piloting a new map product, improving predictions in ad ranking models, and finishing a new ad server.

"We know we have more work in front of us," Segal said.

See Also: After Massive Twitter Hack, UK Cybersecurity Expert Shares Tips On How Businesses Can Protect Themselves

Subscription Job Posting: Twitter said it's hiring people to work on a subscription service. But if the company has a new subscription product to announce, it will be made directly from management and not through a job posting.

The company is committed to testing and learning about non-ad related revenue opportunities, he said. Subscription, commerce, and other areas represent new revenue streams "over time."

Securing The Network: Twitter suffered a "security instance" last week and the company takes it very seriously. The company wants to be transparent in sharing what happened and how to fix it.

The company is still working through some of the details and when more is known, management will share its findings with the public. The cost to improve safety isn't necessarily large given a long-lasting commitment to investing in the platform.

Share traded up 3.6% to $38.26 at time of publication.

 

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