The facts are hard to digest but Twitter Inc, one of the planet’s most popular websites is losing customers.
The social media platform revealed that it lost 2 million users in the last three months of 2015. Twitter shares plummeted as much as 12 percent in after-hours trading.
According to CNN, Twitter which is still not been able to recover from the departure of four key executives in late January, reported that it had 305 million monthly active user (MAU’s) by the end of 2015 excluding the SMS Fast Followers, i.e. a decline from 307 million in the third quarter of 2015.
Twitter, however, is fairly aware of the problems and has launched a number of new products to address the issue.
Jack Dorsey, Twitter’s CEO said its new timeline feature has shown “real promising growth” in user engagement. “We’re going to refine our core service and make everything more intuitive,” Dorsey said. “There’s an opportunity to fix broken windows and confusing aspects that are inhibiting growth. We think timeline is a big part of that.”
imageAccording to The Verge, it was not all bad for Twitter as it posted revenue of $710 million and a net loss of $90 million. Compared to the same quarter last year, revenue grew by 90 percent, while net losses declined by 27 percent. The company said its base of advertisers has also ballooned to 130,000, up 90 percent from the year before.
But while these figures beat the analyst expectations, Twitter’s active user base was flat to negative. It had 320 million active monthly users this quarter, the same as last quarter.
Twitter number of users fell far short of other competitors; Zuckerberg’s Facebook enjoy 1.6 billion user, Google on the other hand has eight products with over 1 billion users each. Even arch rival Instagram has surpassed Twitter in September, growing to 400 million users.
Copyright Business Recorder, 2016
Courtesy : BRecorder