Twitter: shares fall as user numbers disappoint
(CercleFinance.com) - Shares in Twitter dropped more than 15 percent on Friday after the micro-blogging site shocked investors with a lower number of monthly active users (MAU) in the second quarter.
In its earnings press release, the San Francisco-based firm said it had 335 million average monthly active users in the three months through June 30, down from 336 million from the previous quarter.
This closely watched indicator overshadowed a GAAP net profit of 100 million dollars in the quarter, compared to a net loss of 116 million dollars in the previous year, as well as other positive indicators.
Indeed, revenue rose by 24% to 711 million dollars, on advertising revenue up 23% at 601 million dollars.
In early morning trading, Twitter shares were down 15.3 per cent at 36.3 dollars, giving a market value of approximately 27 billion dollars.
Shares had surged some 78 percent since the beginning of the year as Twitter saw revenue growth accelerate in the first quarter.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In its earnings press release, the San Francisco-based firm said it had 335 million average monthly active users in the three months through June 30, down from 336 million from the previous quarter.
This closely watched indicator overshadowed a GAAP net profit of 100 million dollars in the quarter, compared to a net loss of 116 million dollars in the previous year, as well as other positive indicators.
Indeed, revenue rose by 24% to 711 million dollars, on advertising revenue up 23% at 601 million dollars.
In early morning trading, Twitter shares were down 15.3 per cent at 36.3 dollars, giving a market value of approximately 27 billion dollars.
Shares had surged some 78 percent since the beginning of the year as Twitter saw revenue growth accelerate in the first quarter.
Copyright (c) 2018 CercleFinance.com. All rights reserved.