Trump tweets don't help: 1st Twitter revenue drop since IPO

Author

27 April, 2017

On Wednesday, Twitter said the number of monthly active users rose 6 percent during the first quarter year-over-year, compared to the 319 million users from the last quarter of 2016.

Despite the company's quarterly revenue loss, Twitter saw its shares rise almost 9 percent to $15.94 in early pre-market trading on the New York Stock Exchange on the strength of its earnings beat.

Twitter showed a healthy spurt of user activity in the first quarter - netting 9 million monthly users, its biggest gain in two years - and topped analyst expectations on revenue and earnings.

Noto said Twitter wants to air live video to users 24 hours a day, seven days a week via its desktop and app offerings.

Although it remains a long way from its early 2014 peak, Twitter's market value shot up 12 percent on the morning after delivering its results on Wednesday.

Monthly users were on the up, climbing six per cent on the same quarter past year and almost three per cent on the previous quarter to 328m.

"While we face revenue headwinds, we made progress focusing revenue products on our strengths", Dorsey said, adding that user growth will contribute to revenue and profit going forward.

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Live streaming was also strong, with live video reaching 45 million unique users.

At the same time, the company warned that revenue could be weak over the next few quarters-in part because Twitter is winding down a number of advertising products that weren't performing.

"We're proud to report accelerating growth in daily active usage for the fourth consecutive quarter, up 14% year-over-year", said Jack Dorsey, Twitter's CEO. There's been numerous tactics to make people and tweets to follow easier to find.

Despite Twitter's beating revenue expectations, the revenue was a decline from the previous quarter and from the year-earlier period.

The problem: The people already on Twitter may well be using it more, but America's first true "Twitter President" hasn't inspired others to sign up for Twitter en masse. Analysts had been looking for earnings of 2 cents per share and $517 million in revenue.

Still, the company said it expects revenue growth to continue to "meaningfully lag audience growth in 2017".


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