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27 July 2017, 11:31 | Dan Bryan
Twitter beats Wall Street expectations, but user growth has totally stagnated
Twitter's adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, were $178 million, or 31 percent of the company's total revenue - compared with $175 million or 29 percent of revenue in last year's second quarter. "We increased our focus and discipline to execute at a faster pace than we've done before and ship larger, more fundamental changes that matter", Twitter said in its shareholder letter. Even more, with management previously noting that revenue growth would meaningfully lag user growth, slowing user growth suggests it may be a while before the tech company can return to revenue growth.
In the first quarter, the company's users jumped from 319 million to 328 million, sending signals that Twitter's turnaround efforts had finally started to pay off. Investors are now concerned with user growth, as rival Facebook currently has 2 billion monthly active users. FIL Ltd increased its position in shares of Twitter by 53.1% in the first quarter.
The company's completely stalled user growth during its second quarter sent shares diving more than 10% in pre-market trading on Wednesday. The company reported it is taking daily action on 10 times as many abusive accounts compared with the same time previous year. Handling hate speech and other persistent targeted abuse has been a struggle for Twitter and the service's inability to curb these users reportedly prevented a potential purchase by Disney a year ago.
Revenues fell 4.7% from past year to $574 million, also easily topping analysts' view for $536.63 million.
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Twitter reported Q2 revenue of $573.9 million (down 5% annually) and adjusted EPS of $0.08, beating consensus analyst estimates of $537 million and $0.05.
Twitter beats analyst expectations, but turnaround depending on audience growth fails to materialise. It's a slight bump in year-over-year losses, as the site posted a loss of $107 million last year.
However, Twitter's relatively mature U.S.ad business, which accounts for 55% of its ad revenue and 47% of total revenue, saw revenue drop 5% sequentially and 14% annually to $269 million.
Average MAUs were 328 million for Q2, an increase of 5% year-over- year and compared to 328 million in the previous quarter.
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