omdok
No Result
View All Result
Monday, August 8, 2022
  • Login
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Tech
  • Real Estate
Subscribe
omdok
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Tech
  • Real Estate
No Result
View All Result
omdok
No Result
View All Result
Home Markets

Twitter’s stock plummets following a poor quarter and a miss on user development

May 1, 2021
in Markets
147 10
Analysts expected the tech giant to report second-quarter revenue of $1.06 billion.

Analysts expected the tech giant to report second-quarter revenue of $1.06 billion.

31
SHARES
3.1k
VIEWS
Share on FacebookShare on Twitter

Twitter’s stock plummeted more than 15% after the social media firm missed on usage growth in the first quarter and forecasted lower sales growth in the future.

After market close on Thursday, the company reported that its average monetizable daily active users increased 20% year over year to 199 million, compared to analysts’ expectations of 200 million. Despite the poor user growth numbers, Twitter exceeded sales and earnings goals, albeit not nearly enough to satisfy investors.

Twitter posted first-quarter sales of $1.04 billion, up 28% from $808 million a year earlier, when the pandemic started to wreak havoc on corporate earnings. Twitter earned $68 million in the third quarter, up from a loss of $8.4 million a year earlier.

Concerning content moderation, CEO Jack Dorsey said that he believes Twitter should not be "the arbiter of all these matters."
Concerning content moderation, CEO Jack Dorsey said that he believes Twitter should not be “the arbiter of all these matters.”

Twitter delivered another setback to market sentiment when it released second-quarter forecasts that fell short of expectations.

The business stated that it anticipates sales of between $980 million and $1.08 billion in the second quarter, compared to analysts’ expectations of $1.06 billion.

Twitter CEO Jack Dorsey also provided some insight into how the organization views content moderation during a conference call with analysts. The company has come under fire for suspending accounts, including The Post’s, and restricting the reach of stories it finds to breach its laws. Though some argue that it has struggled to describe its platform rules clearly.

Since former President Donald Trump's permanent ban, Twitter has been a different location.
Since former President Donald Trump’s permanent ban, Twitter has been a different location.

Dorsey said that the company needs to empower users to participate in content moderation because he believes Twitter should not be “the arbiter of all these things.”

“It should be all about crowd wisdom, and we’re attempting to strike that balance,” he said.

The earnings provided investors with their first look at how the business could operate in the absence of former President Donald Trump, who was barred from the network following the Jan. 6 Capitol riots.

Trump used Twitter more than any other elected official, often in an unmoderated manner that some attribute to Twitter’s recent development.

Tags: Twitter

Market News

Julie Bishop is in a video with Hollywood stars for her new job with a mining services company in Perth. The video is for new employees.
Business

Julie Bishop Hollywood heavyweights, wiki bio net worth video Instagram

by adminmi
July 17, 2022
0

Julie Bishop says that a Perth mining services company will give her a new job. In a funny new video...

Read more
Apple just came out with a new MacBook Air that comes in four colors: silver, space gray, new starlight, and midnight.

 2022 Updated features MacBook Air silver, space grey and new starlight and midnight

July 17, 2022
Why is the euro falling dollar parity definition, stock market today

Why is the euro falling dollar parity definition, stock market today

July 12, 2022
Elon Musk has taken steps to cancel his agreement to buy Twitter. But the company is set on making the deal happen anyway.

The case between Elon Musk and Twitter is now in court, $44 billion offer to buy

July 10, 2022
In June, Charif Souki was in London.

Charif Souki tellurian news net worth, LNG plant at Sabine Pass is in Cameron

July 10, 2022
Real Estate

Jada group Sydney construction industry collapses, report Mac Insolvency lodged with ASIC

July 19, 2022

Categories

  • Business
  • Cryptocurrency
  • Economy
  • Gadget
  • Markets
  • Politics
  • Real Estate
  • Startup
  • Tech
  • Uncategorized
  • World

Site Navigation

  • Home
  • Advertisement
  • Contact Us
  • Privacy & Policy
  • Other Links
omdok

About the latest trends in the business world in-depth features on a variety of topics. Focus on the intersection between business and pop culture and between business and politics.

omdok.com © 2021 all rights reserved

No Result
View All Result
  • Advertisement
  • Contact Us
  • Homepages
  • World
  • Economy
  • Business
  • Markets
  • Tech
  • Real Estate

omdok.com © 2021 all rights reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version