Twitter Earnings Fail To Meet Expectations

Twitter failed to meet financial analyst expectations in its latest earnings announcement amid another period of slow user growth.

 

The number of monthly active users rose just three million to 313 million in the last quarter.

At the same time, the company reported revenue of $602m (£458m) – just short of the expected $607m (£462m).

The social media site can at least say this amounts to a 20% rise on the same quarter last year.

In a letter to shareholders detailing the latest earnings, the company said: “We saw continued increases in engagement, and sequential growth in both monthly active and daily active usage.

“We are seeing the direct benefit of recent product changes, and with disciplined execution, we believe we can drive improved engagement and audience growth over time.”

 

Twitter has been repositioning itself as a home for breaking news and live video after struggling to compete with Facebook and Instagram for users as a social communication platform.

The company has also committed to improving safety after criticism over how it handles abuse.

On safety, the site added: “We, along with the broader industry, have a lot more work to do in this area, but we’re committed to continuing to develop tools that will help keep Twitter, Periscope and Vine safe and open for people to connect in real time.”

Source: skynews