Twitter has recorded more users and increased revenue despite the ban in Nigeria.
Gatekeepers News reports that Twitter says it recorded $1.28 billion in revenue for the third quarter of 2021 which represented a 37-percent increase over $936 million recorded in the corresponding period in 2020.
In June 2021, the Federal Government of Nigeria suspended the operation of Twitter in Nigeria. The microblogging site, after 145 days of its ban in the West African country, recorded an increase in monetisable users and revenue.
Following the ban, NetBlocks Cost of Shutdown Tool (COST) revealed that the country’s digital economy dipped by N2 billion daily and could have amounted to N315.68 billion.
Twitter, in its Q3 2021 financial statement, recorded that it generated $742 million in the United States, an increase of 45 percent, while international revenue stood at $542 million, an increase of 28 percent.
The microblogging platform also reported that Japan remains its second-largest market after the United States, growing at 20 percent and contributing $159 million to the overall revenue.
According to the report, the company’s total advertising revenue stood at $1.14 billion, an increase of 41 percent.
However, year-over-year growth for Q3 ad revenue slowed in comparison to Q2 2021.
Twitter’s key subscriber metric, monetisable Daily Active Users (mDAU), hit 211 million in the quarter, up 13 percent from a year ago.
According to regional grouping, the United States’ advertising revenue stood at $647 million, an increase of 51 percent compared to a year-over-year increase of 98 percent last quarter.
Also, international ad revenue was $493 million, up 30 percent, which is 29 percent on a constant currency basis, compared to a year-over-year increase of 76 percent last quarter.
Twitter added that it is projecting revenue between $1.5 billion and $1.6 billion in the next quarter.
