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| Version 1 | Version 2 |
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| Twitter reports slowest revenue growth since 2013 | Twitter reports slowest revenue growth since 2013 |
| (35 minutes later) | |
| Twitter has reported its slowest quarterly sales growth in three years, as the firm fends off competition from a growing number of social media sites. | |
| Revenue for the second quarter was up 20% to $602m, far slower than the same quarter last year when it rose 61%. | Revenue for the second quarter was up 20% to $602m, far slower than the same quarter last year when it rose 61%. |
| But the micro-blogging site managed to shrink its quarterly loss to $107m(£84.7m) from $136m last year. | But the micro-blogging site managed to shrink its quarterly loss to $107m(£84.7m) from $136m last year. |
| The company also reported a 3% increase in monthly active users (MAU) an important metric for advertisers. | The company also reported a 3% increase in monthly active users (MAU) an important metric for advertisers. |
| Twitter attracted 313 million MAUs up from 310 million in 2015. | Twitter attracted 313 million MAUs up from 310 million in 2015. |
| "We continue to believe that, with disciplined execution against our priorities, we can drive sustained engagement and audience growth over time," said Twitter chief financial officer Anthony Noto. | "We continue to believe that, with disciplined execution against our priorities, we can drive sustained engagement and audience growth over time," said Twitter chief financial officer Anthony Noto. |
| The company's stock fell over 9% in after-hours trading. | |
| Increasing Users | Increasing Users |
| Twitter has been increasing its efforts to attract users in the face of competition from Snapchat and Instagram. | Twitter has been increasing its efforts to attract users in the face of competition from Snapchat and Instagram. |
| In April, Twitter announced a partnership with the US National Football League to stream 10 games in the upcoming season. Media experts say this could have a marked impact on long term user engagement. | In April, Twitter announced a partnership with the US National Football League to stream 10 games in the upcoming season. Media experts say this could have a marked impact on long term user engagement. |
| Twitter shares plunge on weak earnings | |
| Twitter scraps 'unengaging' homepage | |
| Stolen Twitter logins put on sale | |
| In a letter to shareholders, Twitter chief executive Jack Dorsey said: "We are confident in our product roadmap, and we are seeing the direct benefit of our recent product changes in increased engagement and usage". | In a letter to shareholders, Twitter chief executive Jack Dorsey said: "We are confident in our product roadmap, and we are seeing the direct benefit of our recent product changes in increased engagement and usage". |
| As expected by some analysts, Twitter saw a seasonal uptick in advertising revenue which rose 18% to $535m. But without strong user growth attracting advertisers becomes harder. | |
| The sombre results have called into question the leadership of Mr Dorsey who is one of the company's co-founders. | |
| He re-joined Twitter as chief executive last year as part of an effort to turn the struggling social media site around. In Twitter's history, it has never produced a profit. | |
| But since his return the company has added just 9 million monthly active users. | |
| Mr Dorsey has made changes to try and make the micro-blogging site more appealing. The firm has loosened its 140-character limit and begun showing tweets in order that users will find more interesting rather than chronologically. | |
| But analysts said the changes had not had much impact. | |
| "Clearly, the turnaround is still a work in progress and the question of whether being a platform for a mass audience versus a niche audience needs to be answered," said James Cakmak, analyst at Monness, Crespi, Hardt & Co. | |
| Patrick Moorhead, analyst at Moor Insights & Strategy, was also critical: "We are a year into Dorsey coming back and there is really no end in sight of when it is going to start picking up to where investors are going to be happy." |