Twitter has struggled to build out its ad offerings, leaving it reliant on a suite of promotional tools geared toward advertising around big events and product launches
The company said it finished rebuilding its ad management technology in the second quarter, which would support faster development of new formats going forward, and was rolling out measurement tools for “direct response” ads used by app developers.
Twitter reported a second-quarter loss of $1.2 billion, largely driven by the reversal of a tax benefit established last year, when the company transferred intellectual property to Ireland. Because of the second quarter’s steep coronavirus-related losses, Twitter did not make enough money to take advantage of the tax benefit.
Echoing earlier guidance, Twitter said it expects data licensing revenue to “moderate” for the rest of the year.
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