Twitter Stock Crashes As Social Network ‘Cracks Down’ On Alt Right

Tuesday, August 1, 2017
By Paul Martin

Sean Adl-Tabatabai
August 1, 2017

Twitter stock spectacularly crashed last week, following CEO Jack Dorsey’s decision to ban alt right accounts from the platform.

Twitter’s user base also declined to 70 million, from 70 million in the first quarter of 2017, Dorsey confirmed in a letter to shareholders. reports: Its global user base was 328 million. Analysts had been expected it to add at least a few million users.

Twitter’s stock tumbled as much as 10 percent in pre-market trading on Thursday following the earnings report, according to CNN Money. The company remains unprofitable and is yet to post a net profit.

By comparison, Facebook was reporting adding 70 million new users, with overall users now standing at more than 2 billion.

Twitter has struggled to win more advertising dollars, with company revenues falling 8 percent, totaling $489 million compared with $535 million in the same quarter last year.

Advert engagement in the industry grew 95 percent year-on-year in the second quarter.

Twitter has tried to shift focus to growth in the number of people using Twitter daily, as opposed monthly. It’s daily active user base grew 12 percent from the same quarter a year ago, showing greater engagement with the platform. Twitter did not break out the number of daily users.

“Our focus has been on daily active usage,” Anthony Noto, Twitter’s chief operating officer, said on the call. “We believe we have content that’s relevant to everyone in the world and it’s relevant every day.”

The company touted its expansion into livestreaming, delivering more than 1,200 hours of live video. Its 625 video events reached 55 million unique viewers, an increase of 22 percent from the previous quarter.

The Rest…HERE

Leave a Reply

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter