Twitter Shares Plunge 16% After User Numbers Slip

Twitter share price tumbles after it loses 1m users in three months

Twitter's EBITDA (Earnings before interest, taxes, depreciation, and amortization) was $265 million, up from $178 million a year ago, but critically, their monthly active users for the quarter were 335 million, down from 336 million in the first quarter.

On Friday, Twitter reported a decrease in the number of monthly users on the site.

"We are proud of the tangible improvements people are seeing on Twitter", the company wrote in a letter to investors.

Twitter is plunging before the opening bell on weak user numbers, a day after a historic rout at Facebook.

This week big tech stocks have been in the spotlight after Amazon was boosted thanks to record results in the second quarter, but Facebook warned of less rosy future growth, which led to a almost 20% fall in its share price.

The knee-jerk rationale is to associate the MAU drop with Twitter's crackdown on bots and fake accounts, but the social network admits that it doesn't include inactive or potentially spammy accounts in its MAU tally anyway.

Trump on Thursday accused Twitter of "shadow banning" prominent conservative voices.

The social media company also predicted further declines in the next few months. Analysts had expected a gain of 1 million users, and the results could harden concerns that Twitter lacks a clear strategy to grapple with various platform problems and grow usage and revenue together.

This is the company's third profit in a row and the third it has ever posted. It doesn't disclose DAUs but said those remain well below 50% of monthly active users.

Tape reveals Trump and lawyer discussing payoff over alleged affair
Cohen said at the time "In a private transaction in 2016, I used my own personal funds to facilitate a payment of $130,000 to Ms. Some reports noted that Davis intentionally leaked the tape to disprove Trump's previous statements about not paying McDougal.

A Washington Post report put the total number of suspended accounts in May and June at 70 million.

Revenue: $US711 million, up 24% year on year and beating expectations of $US696 million.

In April, Twitter said it inked more than 30 deals for live and original programming, including with Walt Disney Co (DIS.N) for a Twitter-only version of ESPN's SportsCenter.

Twitter again touted daily active user growth. That's good for real users - removing twice as many spam accounts as it did a year ago reduced related complaints by almost a third between March and May.

Twitter said the decline in the third quarter would be in the mid-single-digit millions, suggesting a sequential decline to around 330 million users.

The campaign has drawn some complaints from users, especially conservatives who have accused Twitter of singling them out in an effort to limit their free expression.

The service's plethora of product updates and push into live video streaming have made Twitter less cumbersome to use, driving advertising revenue and profit in the second quarter.

On a per-share basis, the San Francisco-based company said it had net income of 13 cents. The average estimate of 16 analysts surveyed by Zacks Investment Research was also for earnings of 17 cents per share. Japan remains Twitter's second-largest market, growing 65 percent and generating $122 million.

Related News:

  • Amber heatwave alert issued

    Amber heatwave alert issued

    Is this the end of the UK's heatwave? The hottest July day on record is 36.7C, which was reached at Heathrow on 1 July 2015. The Royal College of Nursing (RCN) said high temperatures in hospitals were leaving nurses exhausted, sick and dizzy.
    Modric, Mbappe, Ronaldo, Messi make Federation Internationale de Football Association  best shortlist

    Modric, Mbappe, Ronaldo, Messi make Federation Internationale de Football Association best shortlist

    Luka Modric played a pivotal role in that latter triumph before inspiring Croatia to their first-ever World Cup final appearance. Carvajal and Ronaldo were teammates at Real Madrid until the Portuguese superstar completed a stunning transfer to Juventus .
    Largest military deployment for Pakistan polls on Wednesday

    Largest military deployment for Pakistan polls on Wednesday

    The political involvement of the military and ISI is rarely discussed openly due to fear of repercussions. Four others, including Gandapur's guard, were injured.
  • Clippers' Lou Williams has trash talk for Lakers

    Clippers' Lou Williams has trash talk for Lakers

    Last week he got a call from Lakers president of basketball operations Magic Johnson , someone Beasley long dreamed of meeting. Then it went from just sitting there ... then it went from me sitting on the bench to me getting in an argument.
    White House Bars CNN Correspondent After She Questions Trump

    White House Bars CNN Correspondent After She Questions Trump

    She and her employer, CNN , said she was barred because White House officials found her questions "inappropriate", which Mr. Kaitlan Collins: "Are you anxious about what is on the other tapes , Mr.
    Avenatti: Cohen Tapes Contain 'very damaging admissions' By Trump on 'critical issues'

    Avenatti: Cohen Tapes Contain 'very damaging admissions' By Trump on 'critical issues'

    Avenatti has a history of taunting the president with claims to have more information on Trump's alleged indiscretions. Cohen's legal matters will not be tried in the court of public opinion, but in a court of law", Blakely said.
  • Priyanka Chopra-Nick Jonas arrive hand-in-hand at Akash Ambani 's engagement party

    Priyanka Chopra-Nick Jonas arrive hand-in-hand at Akash Ambani 's engagement party

    To satisfy the taste buds of the VIP and A-list guests, catering is being looked after by Foodlink Banquets and Catering. Akash and Shloka, daughter of diamantaire Russell Mehta, had exchanged rings at an informal ceremony in Goa in March.
    Facebook shares slump as user growth cools

    Facebook shares slump as user growth cools

    It was the first full financial report since Facebook became embroiled in the Cambridge Analytica scandal in March. The plummeting stock price wiped out about $US150 billion in the company's market value in less than two hours.
    Earnings of Google parent Alphabet top Wall Street expectations

    Earnings of Google parent Alphabet top Wall Street expectations

    Revenue in Alphabet's "moonshot" Other Bets category came in at $145 million with operating losses rising to $732 million. Google's Other revenues -which now includes the smart thermostat business Nest - were $4.23 billion.
  • Zuckerberg down $16bn as market 'unlikes' Facebook

    Zuckerberg down $16bn as market 'unlikes' Facebook

    Forbes reported that the series of scandals that Facebook has had to deal with has finally caught up with the tech giant. Of 47 analysts covering Facebook, 43 rate the stock as "buy", two rate it "hold" and two rate it "sell".
    Zoo accused of painting a donkey, passing it off as a zebra

    Zoo accused of painting a donkey, passing it off as a zebra

    Despite the onslaught of ridicule and criticism, zoo director Mohamed Sultan insisted the animal was not a fake . For starters, their ears were bigger and their snouts were lighter than those of the typical zebra.
    Inside Trump-Cohen tapes

    Inside Trump-Cohen tapes

    Though Trump can be heard using the word "cash", the meaning behind the word's use is still a matter of dispute on both sides. The Department of Justice is looking into alleged hush money paid to women who claim they had a relationship with Mr Trump .


Most liked

Adan delivers penalty heroics as Atletico open pre-season with shootout win
The Spaniard said: 'Aaron is an important player for us, and the contract is one thing for the club and the player. For me, he's a very good person, a very good professional and he has a lot of experience in the football world.

Cubs acquire Cole Hamels in trade with Rangers
He was 5-2 with a 2.45 ERA in 18 games this year at Class A South Bend and Class A Myrtle Beach. The Cubs increased their efforts to acquire Hamels after the Toronto Blue Jays sent J.A.

Kelly Rowland Gets Temporal Matching Tattoo in Support of Demi Lovato
She was administered Narcan , a well-known antidote for opioid overdose, and that might've been what saved her life. Meghan Trainor says Demi Lovato's openness about her battles and troubles helped her cope with her own struggles .

Yankees trade for left-hander JA Happ from Blue Jays
First, the Athletics sent McKinney, Addison Russell and Dan Straily to the Cubs for Jason Hammel and Jeff Samardzija in 2014. The former first-round pick of the A's was hitting.230 with 13 home runs for Triple-A Scranton/Wilkes-Barre this season.

Blood moon likely on Friday as longest lunar eclipse takes place
The moon will be low on our horizon when it starts to go dark and it will set while completely immersed in a dull-red stain. Additionally, the eclipse will only be visible from Australia as it is beginning and from South America as it is ending.

GOP Reps. File Articles of Impeachment Against Rod Rosenstein
At the time of his confirmation as Deputy Attorney General, he was the nation's longest serving US Attorney. David Cicilline, D-R.I., a member of the Judiciary Committee, told ABC News last month.

Ramaphosa and Xi condemn unilateral trade measures, protectionism
The leaders of the Brics nations will address their peers today. "They come with the national interests of their countries". Last week, President Trump said he was ready to impose tariffs on all goods imported from China - worth $500bn (£380bn).

Unofficial results put Imran Khan ahead in polls as opponents cry foul
Mr Sharif, who won the last election, has been jailed for corruption after a scandal stemming from the Panama Papers leak . Local television reported scattered incidences of police arresting people with pre-marked ballots.

Demi Lovato hospitalized for apparent heroin overdose
She went on to become a multi-platinum pop star, launching Top 10 hits like " Sorry Not Sorry ", "Skyscraper", "Heart Attack". She has been hospitalized and needs everyone's prayers desperately! "Like all of you I am thinking of @ DDLovato right now".

Mega Millions jackpot is up to $512 million
This is the fifth-largest jackpot in the game's history and the 11th largest in USA lottery history. "I am going to go for it". The top Mega Millions jackpots to date include $656M on March 30, 2012, $648M on December 17, 2013 and $536 M on July 8, 2016.

Israel lawmakers approve controversial Jewish identity law
He said he had called it "a source of inspiration to believe in ideals that transformed us from Jews to Israelis". Erdogan has called for a summit of Muslim leaders twice in the past six months after U.S.

Republicans Fume at President Trump's $12 Billion Plan to Aid Farmers
Some of Trump's fellow Republicans are also already balking at the idea of government-funded bailout for a trade war they oppose. Furthermore, we are more than 18 months removed from USA withdraw from the Trans Pacific Partnership (TPP).

Mega Millions Jackpot Grows To $433 Million
This is the seventh time the jackpot has exceeded $400 million and it is the sixth-largest prize in the game's history. The jackpot was last won in OH on May 4, when the ABC XYZ Trust collected $142 million.

Demi Lovato net worth: Sober singer's HUGE 2018 net worth revealed
Fans of the singer were shocked after she revealed she had relapsed with new single, " Sober ", released in June. Phil McIntyre, Demi's manager previously insisted Demi speaks openly about her life to "let people in".

Erdogan says called Ozil, praises decision to quit German team
Notable absentees from the voices of support for Ozil came in the form of the German national team players. Erdogan added: "On Monday night I spoke to Mesut".