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Twitter said on Tuesday that its third-quarter revenue rose 37 percent from a year ago to $1.28 billion, largely recovering from the effects of Apple’s privacy changes that harm mobile advertising.

But the social media company returned to a $537 million loss in the quarter from a profit of $29 million a year earlier, after it paid $809.5 million in 2016 to settle a shareholder lawsuit accusing shareholders of being misleading about user metrics.

In a letter to shareholders, Twitter said the impact of Apple’s changes to its business was less severe than at other companies. Apple launched this year Application Monitoring TransparencyA popup in iPhone apps that gives people the option to not be tracked between apps and websites. This move has hampered companies that rely on tracking to gather information about users so they can better target ads.

Last week, Snap said in an earnings: Apple’s changes It had resulted in slower-than-expected revenue growth. Facebook it also said this week that it is re-equipping some of its ad systems due to the changes.

But Twitter said the effects of Apple’s changes are better for itself because it typically uses advertisers for brand awareness campaigns that rely less on tracking than direct response campaigns that follow users more closely.

“It’s too early for Twitter to assess the long-term impact of Apple’s privacy-related iOS changes,” Twitter said in a letter to shareholders, but the revenue impact for the third quarter was lower than expected.

Twitter said its daily active users who see ads rose 13 percent in the third quarter to reach 211 million. The company added that most of this growth comes from outside the United States.

Twitter announces MoPub sale, a platform for mobile ad sales to mobile advertising company AppLovin, is expected to conclude in the first quarter of 2022 and lose some of its ad revenues as a result. However, the company added that it is still on track to meet its annual revenue target of $7.5 billion or more by 2023.

“We’ve continued to drive incremental value for our advertisers through revenue product innovation, including progress in our brand and direct response offerings, strong sales execution and a massive increase in advertiser demand,” said Ned Segal, CFO of Twitter. Declaration.