Whatever Twitter does it just can’t seem to catch a break with investors. The social network’s stock crashed earlier today in pre-market trading, amid concerns over the company’s financial results.
Twitter announced its latest financial report, amid a mixed bag of news. On one hand the social network saw its daily active user base grow by 7%, and monthly users grow by 4%, compared to last year, which is the highest rate of growth the company has seen in a long while. Engagement and time spent on the network were also significantly up. Twitter credits this good news to some of the steps it has taken to curb abuse, as well as “organic factors” which should be read as the new US president’s propensity for throwing out inflammatory tweets every day.
On the other hand, Twitter revenue grew only one percentage point, a huge stumble compared to the 46% YoY growth it was reporting this time last year. This has investors so spooked that the company’s shares tumbled as much as 10% earlier today, with large fluctuations still ongoing.
A number of high-level executives have also recently left the company, signaling perhaps, continued internal issues for the real-time social network.
Source: Twitter, Jack Dorsey
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