Q2 revenue was up 20 per cent to $602 million (€547.5m), much slower than the same quarter last year when it rose 61 per cent. But the social media giant managed to decrease its quarterly loss to $107 million from $136 million last year.

The company also reported a 3 per cent increase in monthly active users (MAU) an important metric for advertisers. Twitter attracted 313 million MAUs up from 310 million in 2015.

“We continue to believe that, with disciplined execution against our priorities, we can drive sustained engagement and audience growth over time,” commented Twitter chief financial officer Anthony Noto.

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