MOANING PLATFORM Twitter had a rough second quarter, having this week revealed that it added, er, zero new users.
Twitter said during its Q2 earnings on Thursday that it had 328 million users in total, the same figure it touted in the first quarter. Analysts had been hoping that the firm would around four million new users during the three month period.
This poor showing saw Twitter suffer a net loss of $116.5m (around £89m) for Q2, and its revenue also started to drop for the first time in its history.
Twitter chief operating officer Anthony Noto said: "While we still have a lot of work to do for revenue growth to get it to track audience growth, the improvements in revenue growth reflect the progress executing against our top revenue-generating products in the second quarter as well as strengthening business fundamentals."
In contrast, Facebook announced recently that it has more than two billion active users, and this week saw its shares reach a record high after boasting of a 50 per cent jump in mobile ad sales in the second quarter.
This lack of growth over at Twitter has surprised many, given the that the platform's role in the daily news cycle has become more prominent since it became the favoured medium of expression of reality television star, and US president, Donald Trump.
Trump's tweets are constantly making headlines, be it for mocking reporters, blocking celebrities or posting videos of himself body slamming a man whose face is covered by CNN logo, drawing attention to the social network.
Just this week, Buzzfeed reported that Trump's tweets this week raised fears at the Pentagon that he was preparing to announce strikes on North Korea.
Maybe this can be credited for the tidbit of good news in Twitter's second quarter earnings, its daily active users grew by 12 per cent.
"Monthly active usage (MAU) increased five percent YoY and daily active usage (DAU) increased 12 percent YoY, marking the third consecutive quarter of double-digit growth," said Jack Dorsey, Twitter's CEO, in a statement.
Twitter also said that its crackdown on abusive activity is making progress, and said it's now taking daily action on 10 times as many abusive accounts compared with the same time last year. µ
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