Wednesday, 18 October, 2017

Twitter Shares Plummet After It Reports No Usage Growth In Q2

Twitter shares drop 9 percent as it fails to deliver user growth Twitter beats Wall Street expectations, but user growth has totally stagnated
Debra Rodriguez | 28 July, 2017, 00:49

In America, home of one of Twitter's most notorious users, monthly active users fell by two million, while global users grew, the company said in its letter to shareholders.

The struggling social network also posted a net loss of $116m, up from the $107m it lost in the same period a year ago.

Monthly active users: 328 million vs. 329 million expected, according to StreetAccount.

Revenue fell to $573.9 million, the second time it has fallen since Twitter's market debut in 2013.

Jack Dorsey, Twitter's chief executive officer, was keeping his chin up, however. "We don't have data that will explain a causal impact to that", Noto said.

Twitter is still working to prove that it can build a sustainable, growing business. Twitter also believes that its long-term effective GAAP tax rate will be lower than the USA statutory tax rate based upon its established tax structure. Currently, the company is focusing on Live video content, a flurry of live streaming deals, user friendly changes, measures to curb the trolling menace, divestment of non-core operations as well as layoffs.

For its part, Twitter has encouraged investors to focus on other areas for user engagement. "It always was and always will be". Twitter defines daily active usage as users who log in or use Twitter each day on any of its platforms. The stock has risen slightly more than 6 percent in the last 12 months.

The company's net loss widened to $116.5 million, or 16 cents per share, in the second quarter ended June 30, from $107.2 million, or 15 cents per share, a year earlier. Revenue growth for the company has largely been stagnant for the past few years and for the rest of 2017, Twitter said that it doesn't expect to see improvements in revenue growth rate.

The company said it expected adjusted underlying earnings (EBITDA) will be between US$130mln and US$150mln in the third quarter. The FactSet consensus was for 328.8 million.

Twitter may be President Donald Trump's favorite tool, but for the average person, its appeal has apparently become a bit lackluster. The company has worked to improve its process for responding to reports.

The company has also claimed it's finally made "significant" progress toward curbing abusive behavior, taking daily action on 10 times as many abusive accounts compared with a year ago.

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