Twitter Soars 16 Percent on Strong User Growth, Smaller Losses

28 October, 2017, 01:09 | Author: Delbert Rhodes
  • Twitter has been miscounting its users since 2014

Naturally, Twitter was more inclined to emphasize the gains posted in its latest quarter, which included a 14 per cent year-over-year increase in daily active users and a quarterly net loss of $21 million (all figures USD), a significant improvement over the company's $103 million quarterly loss during the same period last year. The daily active user count was not affected and grew 14% since this time previous year.

Shares of Twitter soared over 18 percent on Thursday after the company reported that it expects to be profitable for the first time ever during the next fiscal quarter.

Despite the drop in users, Twitter stock jumped as much as 11% in premarket trading Thursday after the company beat expectations on revenue and gave higher-than-expected guidance for the fourth quarter.

Its monthly active user base rose slightly to 330 million, roughly in line with forecasts.

Wall Street rejoiced at Twitter's performance-company stock was up almost 15 percent in morning trading.

Akshay Kumar's evil villain looks over Rajnikant and Amy Jackson
The movie has created a lot of hype because it is the most expensive movie made in India and it will be screening in high-tech 3D. He will be performing all the three numbers at the event with 125 symphony singers joining him.

Microsoft cloud growth continues through strong financials
Microsoft reported revenue of $24.5 billion for the quarter, up almost 12 percent over the same period previous year . MPC ( more personal computing ) segment derives the majority of its revenues from the PC (personal computing) market.

LeBron James Shines at Point Guard for Cavs
Portland has won an NBA-record 17 consecutive home openers dating to a 96-86 loss to the Los Angeles Lakers in 2000. He leads the team in scoring at 17.0 points per game and his usage rate is at a career-high 24.0 percent.

But the embattled social network also revealed that it had miscalculated monthly users since the fourth quarter of 2014 by including third-party, text-based apps related to its shuttered developer platform, Fabric. The company admitted in an appendix to the earnings report that it had accidentally overstated its monthly active user count in every quarter since the end of 2014.

"This quarter we made progress in three key areas of our business: we grew our audience and engagement, made progress on a return to revenue growth, and achieved record profitability", Twitter CEO Jack Dorsey said in the October 26 press release.

Digits would allow third-party applications to send authentication messages through Twitter's systems. As a result, it lowered previously reported user numbers by 1 million for the fourth quarter of 2016 and by 2 million for the first two quarters of 2017. "We're proud that the improvements we're making to the product continue to bring people back to Twitter on a daily basis".

Twitter has also been criticised for not taking enough efforts to stop abuse and harassment on the platform.

On a call with investors, CEO Jack Dorsey reiterated that Twitter is intently focused on improving safety for users.



Tottenham eye first consecutive wins against Man United since 1990
United also enter having not only won their last five Premier League games at home but also keeping a clean sheet in each one. Tottenham coach Mauricio Pochettino says it is a "small" injury but that Kane would not be risked against United.

Paul Newman's daughter's college boyfriend sells his Rolex for almost $18 million
Legend has it that it became popular when Paul Newman wore it for a photo-shoot with an Italian magazine. In a signed letter accompanying the watch, Nell explains the moment the watch got handed down to Cox.

Amazon profits steady after digesting Whole Foods
Shares of Inc., which are already up 30 percent this year, rose almost 8 percent to $1,046.22 in after-hours trading. In addition, Bezos said active customers on Alexa-enabled devices are up five times over the same period a year ago .

Australian Govt loses majority after court ruling
There will now be a by-election in his seat of New England on December 2 and the Government loses its one-seat majority. The lawmakers recognized that they were dual nationals at the time of the election.

Samsung launches Galaxy Tab A (2017) in USA for $230
Google launched Android Oreo in August and the update was available quickly to Nexus and Pixel devices. Some believe that the South Korean giant will keep the same design line from Galaxy Note 8.

Watch the supersonic Bloodhound SCC's first public test-drive live
That figure is a long way off the team's ultimate goal of 763 miles per hour , however, and a new world land speed record. Today's test left the team confidant they will eventually hit 650 miles per hour (1,050 km/h).

Caterpillar blows past Wall Street estimates, share rise
Maximum and minimum EPS estimate for the current quarter is projected at $1.49 and $1.12, respectively, according to 17 analysts. The stock of Westpac Banking Corp (ADR) (NYSE:WBK) has "Outperform" rating given on Wednesday, September 2 by Credit Suisse.

Einstein's 1922 memos written in Tokyo auctioned off for $1.8 mil.
Although Einstein was absent at the ceremony in Stockholm, news of his arrival in Japan quickly spread. Author Information: Rachel graduated from Yale and is a reporting intern on the local politics team .

British economy fractionally picks up speed in third quarter
The main contributor to services growth was the business services and finance sector, which increased by 0.6 percent. The growth came despite financial and economic worries over Brexit and a future trade deal with the EU.

Nintendo quietly adds GameCube controller support in latest Switch update
The other interesting thing about this news is that it ties into rumors of a new version of Super Smash Bros . coming to the Switch .