Over a million Americans quit Twitter in just three months

Jack Dorsey

Twitter saw a minor growth in its worldwide monthly active user base to 260 million from 259 million in the previous quarter but was offset by a decline in its United States monthly active user base to 68 million from 70 million in the previous quarter.

The micro-blogging firm reported adjusted earnings of 8 cents per share, which was ahead of consensus at 5 cents per share on $573.9 million in revenue, which also beat consensus at $537.5 million in revenue.

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. The company claims that it's growing at 12 percent for the quarter compared to 2016, but investors aren't going to be thrilled at Twitter's audience essentially stagnating. Analysts had projected $568 million. The news is a comedown from the previous quarter, when Twitter added nine million accounts. Average DAU grew 12% year-over-year, marking the third consecutive quarter of double-digit growth.

Shares at the microblogging platform rose 40pc since mid-April when Twitter reported a better-than-expected MAU figure surplus of 9 million.

Twitter chief Jack Dorsey, in announcing the results, insisted the company was "strengthening our execution, which gives us confidence that our product improvements will continue to contribute to meaningful increases in daily active usage". Twitter is rapidly trying to roll out products that will help make the service better, like trying to curb harassment and making the service easier to use with algorithmic feeds.

Twitter's shares fell as much as 14.1 percent at one point after the open to $16.85, wiping out about $2 billion in market value.

That means Twitter's daily active user base is growing; We believe it's up to 157 million users. In part from these numbers, Twitter shares opened trading Thursday down around 13 percent at $17.39 per share.

Revenue in the three months ended in June declined by 5%, year over year, to $574 million, yielding EPS of 8 cents. Better engagement means more expensive ads, which means that the company will be able to restart its engine - but that means it has to grow those DAUs. In Q2, it delivered more than 1,200 hours of live premium video, up from 900 hours in Q1 and double the 600 hours it pumped out in Q4.

Related:

  • Nintendo holds to Switch sales view despite demand

    Nintendo holds to Switch sales view despite demand

    It's a shame we can't see Splatoon 2's opening numbers quite yet, but in October we're sure they'll be looking great. JAPANESE GAMING FIRM Nintendo has now sold 4.7 million Switch consoles since its arrival in March this year.
    North Korea responds to Central Intelligence Agency  director Mike Pompeo's statements

    North Korea responds to Central Intelligence Agency director Mike Pompeo's statements

    The service may break even in a few months and will continue even amid the US demands for isolating North Korea , he said. That would be the second time Pyongyang has tested an ICBM, after its 4 July rocket launch that caused global alarm.
    The remains of Salvador Dali exhumed 28 years after his death

    The remains of Salvador Dali exhumed 28 years after his death

    The samples need to travel to a legal medicine lab in Madrid for analysis, which could take weeks, officials said. She says her mother was employed in Dali's household in the mid-1950s and the two had a secret love affair.
  • Financial Crisis : Greece returns to debt markets after three-year hiatus

    Financial Crisis : Greece returns to debt markets after three-year hiatus

    Greece said on Tuesday its comeback to the bond markets after a three-year absence was an "absolute success". The return to the markets comes after tension over Greece's latest bailout programme in recent months eased.
    8 dead, 30 found injured inside semi-trailer at San Antonio Walmart

    8 dead, 30 found injured inside semi-trailer at San Antonio Walmart

    The US Department of Homeland Security and immigration officials are assisting local law enforcement with the investigation. First responders say there were so many victims, they had to be spread among seven different hospitals.

    Hamas: Israeli procedures in Aqsa will not pass

    Earlier, Palestinian president Mahmoud Abbas said the Palestinian leadership will "freeze contacts" with Israel "on all levels". They refused to enter, preferring to pray outside, in some cases filling the narrow alleyways of the Old City's Muslim quarter.
  • Senate Passes Motion To Proceed On Health Care Debate

    Senate Passes Motion To Proceed On Health Care Debate

    The amendment was defeated 45-55 with seven Republicans joining all Democrats in opposition. Ahead of Tuesday afternoon's Senate vote, Pennsylvania's top Democratic officials - U.S.
    Utah parents give newborn drugs hours after birth

    Utah parents give newborn drugs hours after birth

    When police searched the house where the couple lived with the four children , they found drug paraphernalia scattered everywhere. The couple told the police they learned a method from other friends to avoid hospital staff from learning their baby's addiction.
    Sensex hits fresh peak of 32135.91; Nifty touches 9939.30

    Sensex hits fresh peak of 32135.91; Nifty touches 9939.30

    Foreign portfolio investors (FPIs) bought shares worth a net Rs 12.90 crore last Friday, as per provisional data. The Sensex at the Bombay Stock Exchange ( BSE ) scaled a lifetime intra-day high of 32,252 in afternoon trade.
  • Warrant Issued For Dallas Cowboys Receiver Lucky Whitehead in Virginia

    Warrant Issued For Dallas Cowboys Receiver Lucky Whitehead in Virginia

    Whitehead's legal trouble is just the most recent - or at least the latest to come to light - for the Cowboys in recent months. Running back Ezekiel Elliott was involved in an altercation on July 16 at a club in Dallas where a man was punched.
    Palestinian president Mahmud Abbas freezes Israel contact over holy site dispute

    Palestinian president Mahmud Abbas freezes Israel contact over holy site dispute

    Al Aqsa Mosque is believed to be the third-holiest site for Sunni Muslims, after the cities of Mecca and Medina. The UN Security Council will hold talks Monday about a new wave of deadly Israeli-Palestinian unrest.
    Hartlepool holidaymakers caught up in natural disaster  in Turkey

    Hartlepool holidaymakers caught up in natural disaster in Turkey

    The epicenter was also close to the Turkish port city of Bodrum, a seaside resort popular with tourists and Turks alike. Hajiyev noted that the Azerbaijani Embassy in Greece continues to stay in touch with the local authorities.

Comments

Latest news

Tragic! 17 members of same family die in deadly Gujarat floods
The MeT Centre here predicted that heavy to very heavy rain would occur at several places in Gujarat during the next two days. Skymet Weather has evaluates the cause of the heavy rain to be a low-pressure area over South Gujarat.

First Attempt at Repeal-Only of Obamacare Falls Short in Senate
The Senate is dedicating this week to having an open amendment process that lets lawmakers offer their ideas to change the bill. Susan Collins of ME and Lisa Murkowski of Alaska opposed the vote for debate.

Man Utd to miss out on Renato Sanches again
However, reports in L'Equipe today claim that the 19-year-old has agreed a four year deal with Serie A big spenders, AC Milan . Manchester United had also been linked to Sanches, who's agent is Jorge Mendes, who also represents Jose Mourinho.

Cara Delevingne is supported by her big sister Chloe at
I didn't like what it was turning me into.Not that I was focused about how I looked all the time, but it is kind of about that'. Now when I model, I get to style my own shoots and decide who I work with. "It makes me very happy".

What Does Senator John McCain's Glioblastoma Diagnosis Mean?
House recently passed the Ozone Standards Implementation Act of 2017, a harmful bill that would delay life-saving ozone standards. Republican leaders openly discussed the possibility of McCain's return with reporters on Monday during an evening vote.

Israeli Embassy guard can't leave Jordan
Discussions are also under way between Israeli and Jordanian authorities to try to resolve the matter. Photo Zakaria Jawawdah, father of the slain Jordanian worker, Mohammad Jawawdah.

Teen driver's sister killed in Los Banos crash live on Instagram
The California Highway Patrol report states that the two girls were sitting in the backseat and were not wearing seatbelts. The video has since been deleted from social media sites, but not before being viewed and shared by numerous users.

'Wonder Woman' sequel is a go
Buzz about the sequel has been picking up recently after Wonder Woman became a smash hit after it was released in early June. A sequel to Patty Jenkins' " Wonder Woman ", the record-breaking superhero film, is in the making, CNN reported on Saturday.

Usher Sued For $10 Million For Allegedly Exposing Another Woman To Herpes
As the New York Daily News notes, California law states that it is illegal to knowingly transmit an STD to your sexual partner. It turns out that the woman in question, Maya Fox-Davis, was a bridesmaid in Usher's wedding to his first wife, Tameka Foster.

Trump helps commission USS Gerald R. Ford, newest aircraft carrier
Former defense secretaries Donald Rumsfeld and Dick Cheney were among a host of officials attending the commissioning ceremony. Taken on her own, the Ford is the most expensive ship of any kind ever built, with a construction cost of almost $13 billion.

Chinese media accuses Sushma Swaraj of lying about border standoff
BRICS comprises member countries Brazil, Russia, India, China and South Africa. The PLA is also reportedly conducting drills for mountain operations.

Amazon rolling out Alexa to its Android shopping app
There was no formal announcement of the launch, but Amazon has confirmed the integration and is rolling out the service this week. Also, Alexa on Android can perform different tasks including telling jokes, launching the Netflix app, and ordering Starbucks.

Ghost Recon Wildlands Is Getting PvP This Fall
Ubisoft invited members of the community in for a sneak peak at the new mode in a series of workshops at the Paris studio. Ghost Recon Wildlands continues to be a huge hit for Ubisoft, and it's been Ubi's best-selling game of 2017 so far.

Scripps Networks Interactive, Inc. (SNI) Up on Discovery Merger Buzz
Their average price target spell out an upbeat performance - a 13% and would give SNI a market capitalization of almost $9.74B. KCG Holdings Inc.'s holdings in Scripps Networks Interactive were worth $2,227,000 as of its most recent SEC filing.

Elon Musk seems to have ditched Red Dragon lander plan for Mars
Either way, Musk's Boring Company will need more than a nod to build the high-speed transit system between two major cities. Musk's Boring Company is named after equipment that will bore underground tunnels meant to alleviate above-ground traffic.

Other news