The social media major Twitter posted stronger-than-expected profits and revenues in the third quarter. The social network delivered a $789 million profit, which included one-time gains, compared to a net loss of $21 million in the previous year, as revenues increased 29% to $758 million.
The record profit included one-time gains from tax and asset valuation adjustments, without which the company’s profit would have stood at $163 million for the quarter.
However, on the other hand, the company’s average monthly active users witnessed its second straight quarterly drop to 326 million, from 335 million in the previous quarter. Out of these, around 67 million monthly active users is from the United States while 259 million users is from the rest of the world.
“We’re achieving meaningful progress in our efforts to make Twitter a healthier and valuable everyday service,” said chief executive Jack Dorsey. “We’re doing a better job detecting and removing spammy and suspicious accounts at sign-up. This quarter’s strong results prove we can prioritize the long-term health of Twitter while growing the number of people who participate in public conversation.”
The company said the decline was because of efforts to improve the “health” of its platform by removing fake and abusive accounts along with the new GDPR (General Data Protection Regulation) rules in European Union.