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Twitter Disappoints With Quarterly Earnings Report

Apr 27 2016

Jack_Dorsey_2014

CEO Jack Dorsey is attempting to turn around Twitter but the latest quarter result, released Tuesday night, is no indication that will happen anytime soon. First quarter 2016 advertising revenue came in softer than anticipated. Analyst were hoping for $608 million in revenue but the company only produced $595 million. Shares tumbled after hours last night and opened up down 16% were they stayed all day (closing at $14.86), even as the overall market climbed in the afternoon.

Twitter added 5 million new users during the quarter, although Twitter is famous for having more fake accounts created than real accounts. The company also stated that 310 million users are active each month. The is an improvement over user sign-ups and activity from prior quarters. The popular social media site ranks second in media attention behind only Facebook.

A feature to show users popular tweets they missed while not logged into the service has lead to an improvement in engagement including liking and sharing of tweets. This feature is similar to Facebook Wall changes that show what the company believes you would like to see instead of a chronological display of posts.

Twitter CEO Jack Dorsey One-On-One | CNBC

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