Twitter shares dive after exodus of American users

Jack Dorsey

Adding zero new users, though, is not what investors were looking for.

According to Twitter, the number of total daily active users grew 12% year-over-year, the third straight quarter of double-digit growth on the metric.

For instance, Twitter's revenue per MAU was $1.75 in the second quarter.

Twitter's average monthly active users (MAU) was 328 million in the three months through June 30. As it relates to back half the year, we did note that, while we're encouraged by the improvement of overall revenue trends, we don't expect to see revenue growth rates improve for the second half of '17.

For a company that just reported forty-five percent sales growth year-on-year, that is a bargain. Better global ad execution, and maybe somewhat better ad targeting - CEO Jack Dorsey mentioned in the shareholder letter that ad engagement rates have improved - seem to be helping. Mistreatment on the platform has scared off both advertisers and potential buyers, as Salesforce ruled out a bid for Twitter in part from concerns the social platform could not handle online abuse and trolls.

Despite the site's high-profile users, who include celebrities and President Donald Trump, Twitter has struggled to translate this into sustained growth for investors.

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With users, Twitter also touted its work curbing abusive accounts on the platform with updates like its quality filtering.

Here are some other highlights from management's letter to shareholders. 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 previous year.

"We want to deliver under-served audiences and content", said Twitter Chief Operating Officer Anthony Noto, on a conference call to discuss the company's results.

Twitter beat analysts' expectations on EPS (non-GAAP) at 12 cents per share, compared to a predicted 5 cents per share.

The company's second-quarter net loss widened to $116.5 million as it took a $55 million impairment charge and revenue fell 4.7% to $573.9 million, the second time it has fallen since its public market debut in 2013. Even though the two figures are very similar - Twitter posted a $107 million net loss in year-ago quarter - it's still heading in the wrong direction.

Twitter has made several efforts to attract more users, including merging some features to streamline discoverability and making various UI refinements.

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