SAN FRANCISCO( AFP) – Twitter s shares fell hard-boiled Tuesday after its quarterly update testified more losses for the fighting social media scaffold, which has verified sluggish emergence in revenues and active users.
Shares were down practically 11 percent at $16.45 in after-hours transaction following the report, which testified Twitter s loss restricted to $107 million in the second largest part from $136 million a year earlier.
Significantly for investors, the number of monthly active customers shaped up to 313 million, up three percent from a year ago and only slightly more than the 310 million in the past quarter.
Revenue rose 20 percent from a year earlier to $602 million but lagged expectations.
“We ve made a lot of progress on our priorities this part ,”,NNP, ” Twitter chief executive Jack Dorsey enunciated of the results.
Dorsey added that “we are confident in our commodity road map, and we are seeing the direct interest of our recent commodity changes in increased engagement and usage .”
A Twitter co-founder, Dorsey returned to the CEO job last year in a bid to boost emergence and user date, with its shares slumping on concerns that it is failing to keep pace in the fast-growing world of social media.
Twitter has been seeking to expand its reach with live video and an array of partnerships in sports and the political field, but the moves appear to have had little impact.
Dorsey said he expects the new strategy to furnish benefits.
“We re wreaking every day to make Twitter faster, more intuitive and easier to give ,”,NN, ” he told a conference call.
“You ve already been us take some big steps here, like the changes to the timeline and the announced changes to the character counting and acknowledgment regulations, there are still s more changes like these on the way .”
He enunciated emergence “also involves improving people about why to use Twitter .”
Twitter has been streaming video from the Republican and Democratic gatherings, and has struck deals for live video content around NBA basketball games.
Earlier this year Twitter struck a deal with the National Football League to stream Thursday night American football games, and likewise streamed content from the Wimbledon tennis tournament.
Twitter has never posted a profit because it keenly apprehended stock market introduction in 2013 but has been ramping up its promote efforts to bring in revenue.
Advertising revenue totaled $535 million, an increase of 18 percent year-over-year, with mobile accounting for 89 percent of that.
Revenues from the United States amounted to $361 million, up 12 percent from a year earlier and international income thrived 33 percent to $241 million.
Yet numerous psychoanalysts stand skeptical about whether Twitter can turn its fortunes.
“We stand cautious on Twitter s ability to show meaningful user emergence in the near-term, but administration chimed confident in commodity and commerce progress ,”,VBP, ” enunciated Mark Mahaney at RBC Capital Markets in a memorandum to clients.
“Twitter believes it can dictation payment ad pricing, but its stunning ad income deceleration doesn t help that .”
A Morgan Stanley note to investors this week offered a “bearish ” view on Twitter, saying that it has failed to drive significant income from its spate on political and sporting events.
“Our web commerce and app download data demo continued deterioration in engagement and user emergence, which we conceive will push monetization ,”,NNP, ” the psychoanalysts said.
Twitter shares hit an all-time high-priced of $69 after its IPO in late 2013 but have been on a downward trajectory since, losing more than 70 percent over the past two-and-a-half years.
The shares shut at $18.45 Tuesday ahead of the earnings report.