Twitter Admits to Overstating User Growth Figures

28 October, 2017, 01:09 | Author: Yolanda Murray
  • Soaring

It added four million additional monthly users during the quarter and grew daily users by 14%, an improvement from zero new users added during the previous quarter.

Twitter stockholders earned 10 cents per share in the third quarter, double the expected amount. It said that even with the correction, it had seen the number of active users grow by 4M in the past quarter ...

"We discovered that since the fourth quarter of 2014 we had included users of certain third-party applications as Twitter MAUs that should not have been considered MAUs", the company wrote in its October 26 letter to shareholders and accompanying press release.

Its monthly active user base rose slightly to 330 million, roughly in line with forecasts.

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ESPN reports that he is not working through the NFLPA, but has hired high-profile lawyer Mark Geragos to represent him. The anthem protest movement began with then-San Francisco 49ers quarterback Colin Kaepernick last season.

Twitter has stepped up efforts to boost its user base and engagement, notably with video partnerships, as part of its turnaround efforts.

Wall Street rejoiced at Twitter's performance-company stock was up almost 15 percent in morning trading.

"We're pleased with the improvements made toward a return to revenue growth this quarter", said Ned Segal, Twitter's CFO. "These third-party applications used Digits, a software development kit of our now-divested Fabric platform, that allowed third-party applications to send authentication messages via SMS through our systems, which did not relate to activity on the Twitter platform", the statement read.

Despite the drop in users, Twitter stock jumped as much as 11% in premarket trading Thursday after the company beat expectations on revenue and gave higher-than-expected guidance for the fourth quarter. As a result, it lowered previously reported user numbers by 1 million for the fourth quarter of 2016 and by 2 million for the first two quarters of 2017.

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The earnings report also addressed Twitter's ongoing problems with harassment.

Twitter recently announced that it will give users more power to report unwanted sexual advances.

"We're committed to making Twitter safer, and we continue to improve and leverage our technology to reduce the reach of abusive tweets", Twitter CEO Jack Dorsey wrote in a letter to shareholders.

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