Despite Twitter recently seeing a great rise in users, Twitter's stock fell and did not meet the expectations that many people had for it. Since Twitters launch, they have yet to prove that they are a profitable company, however, there are still are still many plans that are arranged for Twitter and the company is hoping that these plans will help Twitter meet expectations in their next quarter.
- Twitter stock fell more than 12% in after-hours trading when the company reported revenue of $595m on Tuesday, missing expectations
- Twitter was expected to report $607.8m in revenue.
- The first quarter saw Twitter’s number of active users rise to 310 million, 2 million more than expected by Wall Street.
- According to Twitter, the number of its active monthly users is up 3% year on year.
- The first-quarter revenue totaled $595m, an increase of 36% year on year.
- Advertising revenue was $531m, an increase of 37% year on year
- Twitter’s guidance for its second quarter revenue stands between $590m to $610m.
Twitter was once a social network site that had a promising future however, with new social networking sites such as instagram and snapchat, Twitter is finding it very difficult to compete with these new sites and it is possible that they will no longer be in use. Unlike Facebook,Twitter do not have a solid base and does not have enough money to expand their horizons by finding new services to entertain the users, therefore, soon, people may choose to abandon Twitter for other platforms.
No comments:
Post a Comment