Business
Twitter Seems To Be Stalling As It Fails To Add News Users In Last Quarter
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Twitter failed to add new users in the latest quarter, while the stock seems to be dipping, according to a Bloomberg report published Thursday.
Some users, though, are becoming increasingly dedicated to the the social media platform, as 12 percent more are visiting the site on a daily basis than last year.
Such a statistic doesn’t definitively equate to a growing business. News of the lack of additional users likely contributed to shares diving more than 10 percent Wednesday in market trading before the bell. (RELATED: Twitter Caught In Same Big Trouble As Facebook)
Twitter lost four executives at the end of 2016, and three more in early 2017, in what appeared to be a hemorrhaging spate of high-level employees. All praised the company and its leader Jack Dorsey in some respect, but the departures may have signaled a sign of things to come, specifically its potential stagnation especially relative to other firms in Silicon Valley.
Other tech companies like Facebook had a substantially better quarterly report. The social media service turned tech conglomerate surpassed Wall Street’s projections, growing its user base — which is already the biggest in the world at around 2 billion — roughly 17 percent compared to this point last year.
Twitter did not respond to The Daily Caller News Foundation’s request for comment by the time of publication.
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