Sounds pretty dire … Twitter shares fell more than 13% to $15.43. Since founder Mr. Dorsey officially rejoined Twitter and became CEO in October, Twitter’s stock are down 42%. Twitter posted a loss of $79.7 million, compared with a of $162.4 million loss one year ago.
“Jack Dorsey’s rousing push to make over Twitter Inc. hit another snag on Tuesday, when the social-media service indicated that one of its brightest spots, brand advertising, waned in the first quarter.
While investors braced for another quarter of flailing user growth, Twitter instead missed the mark on revenue, which rose a worst-ever 36% to $595 million. The company blamed the shortfall on soft demand from big brands that promote products in tweets, a major driver of revenue since the ad business took off six years ago.
Twitter did add a surprising five million net new users in the quarter, giving it 310 million users who log in at least once a month.”
Source: WSJ
