Twitter has added zero users since the first quarter, posting $574 million in revenue in the second quarter this year which is a decrease of five per cent YoY (year-on-year). Twitter now has 328 million monthly active users (MAUs) — the same number it reported in the first quarter of 2017. Also Read - Explained: Can Twitter get banned in India?Also Read - Twitter vs government: Twitter India loses legal protection for not complying with IT rules on time
On the contrary, Facebook has over two billion users, WhatsApp now reports over one billion daily users and Instagram ‘Stories’ has over 250 million users. The not-so-good results brought Twitter’s stock down almost 12 percent in trading.
“Monthly active users (MAU) increased five per cent YoY and daily active users (DAU) increased 12 percent YoY, marking the third consecutive quarter of double-digit growth,” said Jack Dorsey, Twitter’s CEO, in a statement.
Last quarter, the micro-blogging platform had daily active usage growth of 14 percent YoY. Twitter’s net income in the second quarter was $56 million, or eight cents per share. ALSO READ: Twitter, social media sites can inform public about adverse weather conditions: Research
“We’re strengthening our execution, which gives us confidence that our product improvements will continue to contribute to meaningful increases in daily active usage,” Dorsey added. “We continue to invest in revenue products and services that leverage Twitter’s unique value proposition and are delivering more value to advertisers than ever, with double-digit growth in daily active usage, improvements in ad relevance and better pricing,” added Anthony Noto, Twitter’s COO.
Twitter was now more focused towards video streaming on its platform. “We’re proud of our strong growth in video, which remained our largest and fastest growing ad format, and we received a positive response from advertisers around the live premium video content debuted at Twitter’s Digital Content NewFronts,” Noto said. ALSO READ: WhatsApp hits 1 billion daily users; its Snapchat Stories clone is now being used by 250 million everyday
Despite stalled user growth, Twitter was now exploring new revenue streams and ways of innovation. When it comes to “Promoted” tweets, the number of brands using Twitter for advertising has been on the rise. Globally, in the first quarter of 2017, Twitter streamed more than 800 hours of live premium video from content partners across over 450 events, reaching 45 million unique viewers — an increase of 31 percent from the fourth quarter of 2016.