I have no idea how this is possible for such a popular social media platform, but Twitter did not, reportedly, gain a single user in three months' time: they now claim 328 million users, a figure that hasn't changed since Q1. But after adding a surprising nine million new users last quarter, some hoped that was a sign Twitter's business growth would eventually follow. They too beat on the top and bottom lines, but while Twitter's revenues declined year on year Facebook posted massive growth, going from just over $6.4 billion in the same quarter last year to over $9.3 billion this time around. The company reported it is taking daily action on 10 times as many abusive accounts compared with the same time previous year. As it relates to back half the year, we did note that, while we're encouraged by the improvement of overall revenue trends, we don't expect to see revenue growth rates improve for the second half of '17. Analysts had expected it to gain 4 million sequentially. Dear Shareholders, We look forward to discussing our second quarter 2017 financial results with you at 5am PT today. Additionally, it reported 12% year-over-year growth in daily active users, which is less than the 14% increase it reported in the prior quarter.
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First the good news for Twitter: Though down 1% annually, the company's worldwide ad sales grew 16% sequentially to $220 million.
Despite its ongoing appeal amongst public figures and celebrities, Twitter has been struggling to keep its user growth even as it added to available features and its live content to help attract views and boost engagement of users. "We're proud of our strong growth in video, which remained our largest and fastest growing ad format, and we received a positive response from advertisers around the live premium video content debuted at Twitter's Digital Content NewFronts".
Revenue in the three months ended in June declined by 5%, year over year, to $574 million, yielding EPS of 8 cents. As far as ad metrics are concerned, there was a 95% year-over-year surge in ad engagements.