iWorld
Twitter’s monetisable daily active users grow 20% to 199 mn
KOLKATA: Microblogging site Twitter reported $1.04 billion revenue for the first quarter of 2021, up 28 per cent year-on-year. It also posted a profit of $68 million, turning back its business from $8.4 million in losses a year ago.
Advertising revenue totaled $899 million, an increase of 32 per cent and total ad engagements increased 11 per cent year-over-year.
“Q1 was a solid start to 2021, with total revenue of $1.04 billion up 28 per cent year-over-year, reflecting accelerating year-over-year growth in MAP (mobile application promotion) revenue and brand advertising that improved throughout the quarter,” Twitter CFO Ned Segal said.
Despite its so-called “solid” performance, Twitter’s stock price dropped nine per cent after reporting Q1 earnings that only narrowly exceeded Wall Street estimates. Analysts had forecast the company would add eight million users during the quarter to surpass 200 million global users overall, as opposed to the one million daily users reported by the social platform.
“Advertisers continue to benefit from updated ad formats, improved measurement, and new brand safety controls, contributing to 32 per cent year-over-year growth in ad revenue in Q1,” he added.
The social media network’s monetisable daily active users (mDAU) grew about 20 per cent to 199 million, falling slightly below the analysts’ expectation of 200 million. Average US mDAU were 38 million for Q1, compared to 33 million in the same period of the previous year, and also bettering the count of 37 million in the previous quarter. On the other hand, international mDAU were 162 million for Q1, compared to 133 million in the same period of the previous year and against 155 million in the previous quarter.
The company has guided total revenue to be between $980 million and $1.08 billion for Q2.
“People turn to Twitter to see and talk about what’s happening, and we are helping them find their interests more quickly while making it easier to follow and participate in conversations,” Twitter CEO Jack Dorsey said.
“Average monetisable DAU reached 199 million, up 20 per cent year over year and up seven million sequentially, driven by ongoing product improvements and global conversation around current events,” he noted.
This quarter also marked Twitter’s first period mostly without the presence of former US president Donald Trump after he was banned from the service following the 6 January insurrection at the US Capitol in Washington DC. Speculations are rife in the industry corridors that Trump plans on starting his own social media site to go head to head with the likes of Twitter and Facebook.
eNews
Paisabazaar launches Credit Premier League 2.0
Nationwide campaign rewards highest credit scores with Rs 1 lakh top prize.
MUMBAI: When credit scores become a national league, even your CIBIL report starts feeling like it’s playing in the IPL and Paisabazaar has just kicked off the second season. Paisabazaar, India’s leading marketplace for financial products and the country’s largest free credit score platform, has announced the return of the Credit Premier League (CPL) 2.0, a fun, nationwide initiative to recognise and reward individuals with the highest credit scores.
Building on the success of the first edition, CPL 2.0 introduces higher rewards and broader participation. The individual(s) with the highest credit score in the country will win Rs 1 lakh, while state champions will each receive Rs 10,000. Additionally, all participants from the winning state, the one with the highest average credit score will also be rewarded.
All winnings will be credited directly to winners’ PB Wallet, allowing them to pay credit card bills, recharge mobiles, or settle utility bills seamlessly on the Paisabazaar platform.
Paisabazaar CEO Santosh Agarwal said the campaign aims to make credit awareness more engaging and mainstream. “With CPL, we are bringing together engagement, gamification and rewards to make conversations around credit scores more mainstream,” he noted. “Our focus remains on building a financially aware and credit-healthy Bharat.”
The first edition of CPL saw over 5.5 million participants, with the highest individual score touching 861. Delhi recorded the highest average credit score of 746.
Consumers can participate simply by checking their free credit score on the Paisabazaar platform or app. The CPL leaderboard and rankings will be available exclusively on the Paisabazaar App.
In a country where financial dreams are serious business, Paisabazaar has found a smart way to turn credit scores into an exciting game – because when your financial health gets rewarded, everyone wants to play.
