Twitter is cleaning up in the Tenderloin.
Twitter’s second quarter financial loss was smaller than Wall Street estimates but it also reported a large slowdown in the number of users and shares slid about 6% in after-market trading.
It reported its slowest rate of growth with the number of monthly active users up by just 1% or about 2 million to 304m compared with Q1. The company has lost several senior executives this year including its CEO. Twitter’s share price at $34 is well below its IPO debut of $45.10.
Foremski’s Take: Twitter has become better at monetizing its large numbers of users but the lack of new user momentum, and endless leadership problems have left investors exasperated with the lack of progress.