And analysts at Canaccord Genuity wrote about the key things that they'll be watching in the earnings report, which includes commentary around Twitter's plans to explore a subscription-based offering.
"Twitter reported mixed Q2 results as the company saw record user growth and a sharp decline in its advertising business due to economic uncertainty caused by COVID-19, although advertising revenue improved throughout the quarter from a 27% y/y decline exiting March to a 15% y/y decline in late June. We expect a continued recovery during Q3 as brand-oriented marketing campaigns, which were among the harder hit formats at the height of the pandemic, seems to be regaining momentum, and as live events and product launches return to more normal schedules. Twitter’s recently completed a refresh of its Mobile Application Promotion (MAP) platform and acquisition of CrossInstall should enable it to expand its performance-based marketing capabilities, and we expect the company to discuss its efforts in this area in more detail this quarter. Investors will likely be looking for additional commentary on the company’s plans to explore a subscription-based offering," wrote the analysts.
Latest Videos From TheStreet and Jim Cramer:
- Jim Cramer Says Earnings Pinpoint Stocks to Buy With or Without Stimulus
- PPE and Your Portfolio: Inside a Disruptive Industry
- PPE in the Ring: How O2 Industries Partnered With UFC
- PPE and the Supply Chain: How O2 Industries Adapted During Pandemic
- Coronavirus: The Latest Numbers on the COVID-19 Pandemic
- How Much Do World Series Tickets Cost in 2020?
- How to Protect Your Portfolio for Any Election Outcome