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Twitter Q2 misses on sales of $683M, loss per share of $0.16 as COVID-19 takes its toll

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On the back of a major security breach last week that saw a bitcoin scam ripple through some of the highest profile accounts on Twitter, the company today reported Q2 earnings that point to the ongoing struggle for ad-based social platforms to weather the pandemic storm while (ironically) handling record levels of traffic and the many growing pains that come with that.

Revenues came in at $683 million with a loss per share (GAAP) of $0.01, with both figures down on the same quarter a year ago, compared to analysts’ expectations, and on Twitter’s own guidance. Meanwhile mDAUs — Twitter’s own audience metric denoting monetizeable daily active users — reached a high of 186 million for the quarter.

Analyst consensus was for $700 million in sales, while Twitter expected a 27% higher figure. Adjusted EPS, meanwhile, was negative $0.16 (non-adjusted was negative $1.56), while analysts expected negative $0.01. For some context, in the same quarter a year ago Twitter reported revenues of $841 million on adjusted EPS of $0.20.

A further note on Twitter’s diluted EPS of negative $1.56: it stemmed from a net loss of $1.2 billion, and Twitter explained that this was in part due to a deferred tax asset valuation allowance of $1.1 billion and a non-cash income tax expense based primarily on cumulative taxable losses “driven primarily by COVID-19.”

The numbers underscore just how much advertising — which accounts for the majority of Twitter’s revenues — has taken a hit for the company despite the continuing surge of traffic and popularity for the site itself. That mDAU figure not only bettered Twitter’s figures last year of 139 million, but beat analysts’ average expectation of 173 million.

Advertising specifically accounted for $562 million of its revenues, down 23% on a year ago. Twitter noted that the pandemic and “civil unrest” that led to many advertisers pausing campaigns both contributed to the decline. The U.S., Twitter’s biggest market, saw a decline of 25% in ad spend.

It goes to show the disconnect not only between audience and advertising that still seems to exist — ads ultimately not only follow eyeballs, but the economy, and that has been in decline — but also the disconnect between financials and how a company is discussed in popular discourse.

That is to say, the big story with Twitter in the last three months has been the ongoing questions of quality, health and security on the platform, and how and whether should Twitter disable bad actors while still upholding free speech. That debate will continue for a long time to come, not just on Twitter but in the halls of government in the months ahead.

It’s that focus on improving the product that CEO Jack Dorsey focused on in his statement on this past quarter’s performance.

“Our product work is paying off, with tremendous growth in audience and engagement,” he said. “We grew mDAU to 186 million, a 34% year over year increase in Q2, the highest quarterly year-over-year growth rate we’ve delivered since we began reporting mDAU growth.

“I also want to address the security issue Twitter suffered last week. We moved quickly to address what happened, and have taken additional steps to improve resiliency against targeted social engineering attempts, implemented numerous safeguards to improve the security of our internal systems, and are working with law enforcement. We understand our responsibilities and are committed to earning the trust of all of our stakeholders with our every action, including how we address this security issue. We will continue to be transparent in sharing our learnings and remediations.”

Ned Segal, the CFO, noted that the ad server rebuild should also help the company recover going forward.

“Despite the pandemic, brands have found innovative ways to join the conversation on Twitter to connect with their customers,” he said. “We have completed our ad server rebuild and are making progress accelerating our performance ads roadmap. With a larger audience and progress in ads, we are even better positioned to deliver for advertisers when the live events and product launches that bring many people and advertisers to Twitter return to our lives.”

More to come.

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What can ChatGPT do?

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ChatGPT Explained

ChatGPT is a large language model developed by OpenAI that is trained on a massive amount of text data. It is capable of generating human-like text and has been used in a variety of applications, such as chatbots, language translation, and text summarization.

One of the key features of ChatGPT is its ability to generate text that is similar to human writing. This is achieved through the use of a transformer architecture, which allows the model to understand the context and relationships between words in a sentence. The transformer architecture is a type of neural network that is designed to process sequential data, such as natural language.

Another important aspect of ChatGPT is its ability to generate text that is contextually relevant. This means that the model is able to understand the context of a conversation and generate responses that are appropriate to the conversation. This is accomplished by the use of a technique called “masked language modeling,” which allows the model to predict the next word in a sentence based on the context of the previous words.

One of the most popular applications of ChatGPT is in the creation of chatbots. Chatbots are computer programs that simulate human conversation and can be used in customer service, sales, and other applications. ChatGPT is particularly well-suited for this task because of its ability to generate human-like text and understand context.

Another application of ChatGPT is language translation. By training the model on a large amount of text data in multiple languages, it can be used to translate text from one language to another. The model is able to understand the meaning of the text and generate a translation that is grammatically correct and semantically equivalent.

In addition to chatbots and language translation, ChatGPT can also be used for text summarization. This is the process of taking a large amount of text and condensing it into a shorter, more concise version. ChatGPT is able to understand the main ideas of the text and generate a summary that captures the most important information.

Despite its many capabilities and applications, ChatGPT is not without its limitations. One of the main challenges with using language models like ChatGPT is the risk of generating text that is biased or offensive. This can occur when the model is trained on text data that contains biases or stereotypes. To address this, OpenAI has implemented a number of techniques to reduce bias in the training data and in the model itself.

In conclusion, ChatGPT is a powerful language model that is capable of generating human-like text and understanding context. It has a wide range of applications, including chatbots, language translation, and text summarization. While there are limitations to its use, ongoing research and development is aimed at improving the model’s performance and reducing the risk of bias.

** The above article has been written 100% by ChatGPT. This is an example of what can be done with AI. This was done to show the advanced text that can be written by an automated AI.

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Google December Product Reviews Update Affects More Than English Language Sites? via @sejournal, @martinibuster

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Google’s Product Reviews update was announced to be rolling out to the English language. No mention was made as to if or when it would roll out to other languages. Mueller answered a question as to whether it is rolling out to other languages.

Google December 2021 Product Reviews Update

On December 1, 2021, Google announced on Twitter that a Product Review update would be rolling out that would focus on English language web pages.

The focus of the update was for improving the quality of reviews shown in Google search, specifically targeting review sites.

A Googler tweeted a description of the kinds of sites that would be targeted for demotion in the search rankings:

“Mainly relevant to sites that post articles reviewing products.

Think of sites like “best TVs under $200″.com.

Goal is to improve the quality and usefulness of reviews we show users.”

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Google also published a blog post with more guidance on the product review update that introduced two new best practices that Google’s algorithm would be looking for.

The first best practice was a requirement of evidence that a product was actually handled and reviewed.

The second best practice was to provide links to more than one place that a user could purchase the product.

The Twitter announcement stated that it was rolling out to English language websites. The blog post did not mention what languages it was rolling out to nor did the blog post specify that the product review update was limited to the English language.

Google’s Mueller Thinking About Product Reviews Update

Screenshot of Google's John Mueller trying to recall if December Product Review Update affects more than the English language

Screenshot of Google's John Mueller trying to recall if December Product Review Update affects more than the English language

Product Review Update Targets More Languages?

The person asking the question was rightly under the impression that the product review update only affected English language search results.

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But he asserted that he was seeing search volatility in the German language that appears to be related to Google’s December 2021 Product Review Update.

This is his question:

“I was seeing some movements in German search as well.

So I was wondering if there could also be an effect on websites in other languages by this product reviews update… because we had lots of movement and volatility in the last weeks.

…My question is, is it possible that the product reviews update affects other sites as well?”

John Mueller answered:

“I don’t know… like other languages?

My assumption was this was global and and across all languages.

But I don’t know what we announced in the blog post specifically.

But usually we try to push the engineering team to make a decision on that so that we can document it properly in the blog post.

I don’t know if that happened with the product reviews update. I don’t recall the complete blog post.

But it’s… from my point of view it seems like something that we could be doing in multiple languages and wouldn’t be tied to English.

And even if it were English initially, it feels like something that is relevant across the board, and we should try to find ways to roll that out to other languages over time as well.

So I’m not particularly surprised that you see changes in Germany.

But I also don’t know what we actually announced with regards to the locations and languages that are involved.”

Does Product Reviews Update Affect More Languages?

While the tweeted announcement specified that the product reviews update was limited to the English language the official blog post did not mention any such limitations.

Google’s John Mueller offered his opinion that the product reviews update is something that Google could do in multiple languages.

One must wonder if the tweet was meant to communicate that the update was rolling out first in English and subsequently to other languages.

It’s unclear if the product reviews update was rolled out globally to more languages. Hopefully Google will clarify this soon.

Citations

Google Blog Post About Product Reviews Update

Product reviews update and your site

Google’s New Product Reviews Guidelines

Write high quality product reviews

John Mueller Discusses If Product Reviews Update Is Global

Watch Mueller answer the question at the 14:00 Minute Mark

[embedded content]

Searchenginejournal.com

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Survey says: Amazon, Google more trusted with your personal data than Apple is

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survey-says:-amazon,-google-more-trusted-with-your-personal-data-than-apple-is-–-phonearena
 

MacRumors reveals that more people feel better with their personal data in the hands of Amazon and Google than Apple’s. Companies that the public really doesn’t trust when it comes to their personal data include Facebook, TikTok, and Instagram.

The survey asked over 1,000 internet users in the U.S. how much they trusted certain companies such as Facebook, TikTok, Instagram, WhatsApp, YouTube, Google, Microsoft, Apple, and Amazon to handle their user data and browsing activity responsibly.

Amazon and Google are considered by survey respondents to be more trustworthy than Apple

Those surveyed were asked whether they trusted these firms with their personal data “a great deal,” “a good amount,” “not much,” or “not at all.” Respondents could also answer that they had no opinion about a particular company. 18% of those polled said that they trust Apple “a great deal” which topped the 14% received by Google and Amazon.

However, 39% said that they trust Amazon  by “a good amount” with Google picking up 34% of the votes in that same category. Only 26% of those answering said that they trust Apple by “a good amount.” The first two responses, “a great deal” and “a good amount,” are considered positive replies for a company. “Not much” and “not at all” are considered negative responses.

By adding up the scores in the positive categories,

Apple tallied a score of 44% (18% said it trusted Apple with its personal data “a great deal” while 26% said it trusted Apple “a good amount”). But that placed the tech giant third after Amazon’s 53% and Google’s 48%. After Apple, Microsoft finished fourth with 43%, YouTube (which is owned by Google) was fifth with 35%, and Facebook was sixth at 20%.

Rounding out the remainder of the nine firms in the survey, Instagram placed seventh with a positive score of 19%, WhatsApp was eighth with a score of 15%, and TikTok was last at 12%.

Looking at the scoring for the two negative responses (“not much,” or “not at all”), Facebook had a combined negative score of 72% making it the least trusted company in the survey. TikTok was next at 63% with Instagram following at 60%. WhatsApp and YouTube were both in the middle of the pact at 53% followed next by Google and Microsoft at 47% and 42% respectively. Apple and Amazon each had the lowest combined negative scores at 40% each.

74% of those surveyed called targeted online ads invasive

The survey also found that a whopping 82% of respondents found targeted online ads annoying and 74% called them invasive. Just 27% found such ads helpful. This response doesn’t exactly track the 62% of iOS users who have used Apple’s App Tracking Transparency feature to opt-out of being tracked while browsing websites and using apps. The tracking allows third-party firms to send users targeted ads online which is something that they cannot do to users who have opted out.

The 38% of iOS users who decided not to opt out of being tracked might have done so because they find it convenient to receive targeted ads about a certain product that they looked up online. But is ATT actually doing anything?

Marketing strategy consultant Eric Seufert said last summer, “Anyone opting out of tracking right now is basically having the same level of data collected as they were before. Apple hasn’t actually deterred the behavior that they have called out as being so reprehensible, so they are kind of complicit in it happening.”

The Financial Times says that iPhone users are being lumped together by certain behaviors instead of unique ID numbers in order to send targeted ads. Facebook chief operating officer Sheryl Sandberg says that the company is working to rebuild its ad infrastructure “using more aggregate or anonymized data.”

Aggregated data is a collection of individual data that is used to create high-level data. Anonymized data is data that removes any information that can be used to identify the people in a group.

When consumers were asked how often do they think that their phones or other tech devices are listening in to them in ways that they didn’t agree to, 72% answered “very often” or “somewhat often.” 28% responded by saying “rarely” or “never.”

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