After Facebook, now it’s Twitter’s turn to declare a fall in the number of users. The microblogging giant immediately saw Twitter share tanking over 20.0%.
As per the announcement of the social networking firm, the number of users came down to 335 million in the second fiscal quarter for the financial year. This is almost a million less than the last three months. The lesser number was on account of Twitter deleting numerous fake accounts, revealed Jack Dorsey, the company’s chief executive.
Twitter Share Value Falls despite Record Profits
The share value plunged to US$35 per share in spite of Twitter declaring major profits – US$100 mn – in the quarter. This is the third quarter in a row in which the San Francisco headquartered company declared profits on account of sales being up by almost 24%. Mr Dorsey added that the recently concluded World Cup had contributed almost US$30 bn to revenues.
Twitter Unperturbed by the Drop as Focus Remains on Users’ Safety
However, the tumbling share value did not much irk the company. Mr Dorsey felt that it is more important to make people safe while using the platform so that they can draw more value from it. To that end they have even launched new tools to tackle abusive and disrespecting behavior that are the very antithesis of a healthy public conversation.
With events occurring all over the world, Twitter aims to provide people a platform to engage in meaningful conversations on those and other things.