Twitter Stock Plummets 15 Percent After it Purged Fake Accounts
28 July, 2018, 20:18 | Author: Melinda Barton
Twitter, like other social media platforms, says it's putting its platform over user growth.
"Based on our current level of visibility, we expect the decline to be mid-single-digit millions of [monthly active users]", the company said in its investor letter. "We believe Twitter's value as a daily utility is enhanced when the conversation on the platform is healthy and people feel safe expressing themselves freely and openly".
Twitter turned its first-ever profit in the fourth quarter of 2017 and has been profitable ever since, but warned last quarter revenue growth would slow this year and costs would rise.
On Wednesday, Facebook said the average number of monthly active users during the second quarter came in at 2.23 billion, or about 20 million fewer than projected. But Chief Financial Office Ned Segal told analysts that the event, which carried into the third quarter, raked in less revenue in its second two weeks. The company said that daily active users increased 10 percent compared to past year, but - inexcusably - does not disclose the actual figures.
It posted its third consecutive quarter of profits.
Nonetheless, the newly announced decline in monthly users clearly anxious investors.
Twitter stocks dive 20% as users drop by a million
The user outlook came as Twitter reported higher-than-expected revenue thanks to the FIFA World Cup, video ads and booming worldwide ad revenue.
Twitter said daily active users rose 11 percent from a year ago, without giving a specific figure.
In May, Twitter said it was challenging the authenticity of 10 million potential spam accounts a week.
RBC Capital Markets analyst Mark Mahaney said in an upbeat note this week that Twitter is "one of the largest and most influential social networks" and provides "meaningful value to users". The company is increasing planned capital expenditure and will continue to spend more on getting rid of bad users.
In the meantime, Twitter's business, heavily dependent on advertising, is hanging in there. Net income was $100 million, or 13 cents a share, compared with a loss of $117 million, or 16 cents. Non-GAAP earnings of 17 cents per share were in-line with estimates.
Revenue of $710.5 million, up 24 percent and edging out expectations of $696 million.
The company increased its capital expenditures forecast for the year to between $450 million and $500 million, from $375 million to $450 million, as it expands and upgrades the computer infrastructure underlying its service.
However, he left a game on April 6 because of blurred vision and migraines, a problem he has experienced for years. Now we'll see if these moves right what has been, for them anyway, a rough patch in recent weeks.
She's always said that her goal is to help others just like her get through what can seem like impossible times. The 25-year-old star told Access Hollywood in 2013 that she had a moment of reckoning when she was 19.
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The election marked the second democratic transition of power since 17 years of military rule ended in 2008. Asked about the doubts and the allegations, he said: "We will prove ourselves that we did our job right".
As an example of its new strategy, Wehner said Facebook will put more development muscle behind the company's Stories feature. It recorded sales of $13.23 billion for the three months ended in June, short of the $13.3 billion Wall Street anticipated.
Manchester City goalkeeper Joe Hart says his next move needs to be "permanent" rather than another loan. Hats off to the people who have supported me all these years because it's not an easy thing to do".
The truce may prove to be short lived if the two sides can't resolve their differences over trade in vehicles and auto parts. Chamber of Commerce estimates those farmers will lose an estimated $12 billion from trade with China alone.
Trump knew before the conversation about the payment from the Enquirer's parent company, American Media Inc., to Ms. Trump is doubling down in his efforts to tell supporters to trust him over the words of critics and news reports".
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White House defends decision to bar CNN reporter from event
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India PM Modi Comes With Bags Of Cash For Uganda
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