NewsExpress banner First Bank Fashion Souk Fidelity bank card banner Umm Sulaim's Thoughts Camano banner

Twitter stock dives after weak earnings report

By News Express on 10/02/2017

Gmail icon

Views: 1,275

Twitter CEO and co-founder Jack Dorsey.
Twitter CEO and co-founder Jack Dorsey.

Shares of Twitter plunged double digits Thursday after the company released a disappointing earnings report that showed revenue growth at the slowest level since it went public in 2013.

The report for the fiscal fourth quarter that ended Dec. 31, revealed the company is struggling to attract advertisers. Advertisement revenue dropped to $638 million, a 0.5 percent decrease from the same period of 2015.

“2016 was a transformative year as we reset and focused on why people use Twitter: it’s the fastest way to see what’s happening and what everyone’s talking about,” CEO and co-founder Jack Dorsey said in a statement. “We overcame the toughest challenge for any consumer service at scale by reversing declining audience trends and re-accelerating usage.”

Twitter now has 319 million monthly active users, up from 317 million last quarter but slightly below analyst expectations of 319.6 million.

There is growing concern Twitter is falling even further behind rivals Facebook and Snapchat in appealing to advertisers and the public at large.

Facebook has 1.86 billion users across the globe and five-year-old Snapchat has around 301 million, according to numbers released by the companies.

“While revenue growth continues to lag audience growth, we are applying the same focused approach that drove audience growth to our revenue product portfolio, focusing on our strengths and the real-time nature of our service,” Dorsey said. “This will take time, but we're moving fast to show results.”

It appears not even high-profile Twitter user, President Donald Trump, can attract droves of users to the service.

Some analysts wondered if there would be a “Trump Bump” as new accounts were opened after he won the presidential election in November, but the earnings report does not support that narrative.

Twitter stock plummeted closed 12 percent lower to $16.41 per share. (Anadolu Agency)
 

Source News Express

Posted 10/02/2017 11:36:53 AM

 

 

CLASSIFIED ADS

 

You may also like...
Why I rattled Nigerian leaders during my trip...

FBI investigates over 2,000 terrorism cases

Ekwueme, Gbonigi, others endorse Jonathan for re-election as...

AB inBev Intafact donates Hilux trucks to FRSC...

Independence: Akeredolu frees 18 inmates in Ondo, commutes...

Why we attack Benue people — Herdsmen

Nigerian trader killed in South Africa

Today’s Weather: NiMet predicts cloudy day and thunderstorms,...

Jonathan bought faulty fighter jets for Boko Haram...

Police arrest suspected killers of Ekiti lawmaker

Ihedioha harassing me and my family, Okorocha cries...

Saraki gives committees deadline to submit 2017 Budget...

 

Latest News Attack at NASS: My life in danger — NPA MD, Bala Usman, cries out •Petitions IGP, DSS on safety UPDATED: Commotion inside Abuja courtroom as DSS re-arrests Sowore Reps wade into Oraifite killings Pirates shut down Delta creeks, rape women N7.2bn fraud: Orji Kalu to file stay of execution, bail applications N-Power: FG assures payment of arrears December 20 Strike looms in Ogun over minimum wage Why I resigned as Plateau PDP chair — Sango FIRS fails to remit N23 billion tax refund to FG: Audit Report Edo Assembly: We’ll obey lawful resolution on 14 members-elect — INEC Bayelsa Transition Committee not meant to probe Dickson — Lyon Commission lauds psychiatric hospital for innovation in tackling challenges

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (569,107 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (455,340 views) Shameless Genevieve Nnaji exposes breasts in public (405,124 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (339,885 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (306,656 views) 10 cars more expensive than Jets (290,320 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (260,665 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (259,445 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (240,900 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (227,411 views) Lagos plane crash: Journalist releases victims’ names (203,303 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (199,778 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (111) Business & Economy (4,613) Business Verdict (89) Columnists (1,155) Complaints & Requests (97) Enterprise & Opportunities (219) Entertainment (715) Features (852) Global Business Monitor (497) ICT Monitor (72) International (4,300) Interview (216) Live Commentary (30) Love Matters (177) Maggie's Blog (510) News (54,887) Opinion (1,435) Pidgin (18) Politics (11,849) Religion (1,130) Sports (2,243) Stock Watch (40) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera