Twitter Inc.'s role as a megaphone for the U. S. president and numerous celebrities has failed to attract ordinary people to the social-networking platform, the company's latest earnings report and dismal forecast indicated.
Jack Dorsey, the chief executive officer of Twitter, acknowledged that the company might not be meeting everyone's growth expectations, and admitted that they needed to do more to convince people.
Twitter reported its second quarterly earnings that surpassed analysts' expectations but could not match the total revenue forecasts.
Twitter reported total revenue of $602 million which is a twenty percent increase on a year on year basis. However, the numbers missed expectations of $607 million. Earnings per share were more than expected at $.13.
The rise of social media is no doubt bringing the world closer but many believe it's also making easy for the terrorist to recruit and spread messages and influence others using the platforms.
The U.S government is also planning to snoop around the Facebook profiles of non-citizens travelers entering country, using it as a means to control terrorism.
Jack Dorsey has returned as Twitter's CEO after seven years since he was ousted. It's not the only responsibility he handles; he is also the CEO of Square which is a mobile paying company. Some people go crazy handling one but Dorsy seems to have a secret trick managing to work at both.
Jack Dorsey, the co-founder of Twitter decided to return as CEO of the company when times are not very easy. The firm is struggling to improve its revenues from advertising, grow its user base and many are asking about the future prospects of the online social media networking company.
Jack Dorsey might just have too much to handle being the CEO of Square, the mobile payments company and Twitter both.
Last Monday, as pressure came from the investors, Dorsey accepted to be Twitter's CEO and decided that there was a major requirement of restructuring. He announced layoffs and cost cutting at the company. On the other hand he was preparing Square for its IPO.
Twitter shares have been falling for weeks but on Thursday it sank lower than the IPO price of $26. It was a new record low after the company's public offering in November 2013.
The first day closing price after the IPO was as high as $44.90 scaling with vigor it reached up to $73.71 within a month in December same year. But the social networking site could not keep with its upbeat progress and is now at a crucial low.
Slowing user growth has plagued the company and just few weeks before it reported an extremely low second-quarter earnings.
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