Twitter battered as user growth stalls

Twitter battered as user growth stalls

Twitter battered as user growth stalls

Twitter shares plunged as much as 10.5 percent, to $17.58, in pre-market trading Thursday, after the company reported its second-quarter results, and nearly all of Wall Street's attention was focused on the company's number of monthly users. In Q1, Twitter's DAUs increased 14% Y/Y (the company doesn't report how many users are using its service daily).

Shares surged more than 40 percent after the corporation had increased its monthly active users by 9 million than expected in the first quarter.

In its letter to shareholders, Twitter said that it was able to boost engagement among daily users during Q2 with more push notifications, email alerts, and timeline improvements. Twitter had a net loss of $116 million, up from a $107 million loss previous year.

Male suspect still at large: 5 injured in chainsaw attack
The border to Germany is located a few miles north of where the attack took place and an worldwide arrest warrant has been issued. Police warned the man was "psychologically unstable" as they said he was still at large despite an overnight police search.

Twitter investors are having another tough day. Analysts had been expecting an average about 328.8 million users, according to Reuters. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.

"We're proud that the product improvements we're making continue to increase their overall contribution to Twitter's growth", CEO Jack Dorsey says.

At current valuation, Twitter would be trading at 2.3x its best-case (or impossible case?) revenues.

Tanker Drivers Set 2 Banks Ablaze in Lagos
According to witnesses, the unknown mobile policeman had approached the drivers to give way to bank customers but they refused. In the ensuing melee, the two banks, Diamond Bank and Sterling Bank were torched by irate truckers.

"Ultimately the value we're going to drive... is serving these audiences on Twitter" that are underserved in specific categories, COO Anthony Noto told investors in the company's earnings call Thursday.

Looking ahead, Twitter forecast Q3 adjusted EBITDA of $130 million to $150 million, and adjusted EBITDA margins between 25% and 26%. Better global ad execution, and maybe somewhat better ad targeting - CEO Jack Dorsey mentioned in the shareholder letter that ad engagement rates have improved - seem to be helping. Twitter's ad revenue fell 8% year over year to $489 million.

Despite its appeal among celebrities and public figures, Twitter has struggled to sustain its closely watched user growth even as it invests in features and live content to help draw viewers and boost user engagement. Revenue was $573.9 million, down from $602 million in the year-earlier period and above the FactSet consensus of $537.5 million.

Fiancé of Australian woman killed by police seeks answers
Bicking said he favored a policy in which there would be less officer discretion for when the cameras should be turned on and off. Chalk drawings on the driveway where they gathered said she would be remembered as "a loving woman, a light to everyone".

Twitter has made several efforts to attract more users, including merging some features to streamline discoverability and making various UI refinements.

Related news