Twitter isn’t doing as well as most would think. Though it seems the United States commander in chief stays glued to his account, other users are dropping like flies.
According to the social media outlet, during the last quarter, they saw an average of 68 million active users on a monthly basis. That number is down 2 million from the quarter before.
When it comes down to it, investors aren’t seeing the growth they would like in the company.
Thursday morning, Twitter saw a 13 percent drop in stocks.
Jack Dorsey, who is the CEO of Twitter, and Anthony Noto, the chief financial officer don’t seem too concerned about the lack of users. They are more so concerned about how many users frequent the site on a daily. The two believe that those numbers give a more accurate account as to how the site is being used. The “Twitterverse” has grown 9 percent overall when it comes to users from the United States.
Twitter Not Seeing The Number They Need
The company says that daily user growth has gone up 12 percent overall since this time last year. That number still falls short compared to the 14 percent increase that was announced during the previous quarter.
Compared to Facebook, Twitter obviously on the lower end when it comes to active users. Analyst thought that Facebook was going to be in the same boat as Twitter when it came to active users, but the social media giant continues to grow in active users. Facebook has approximately 1.32 billion active users on a daily basis. That number has gone up 1.28 billion since the last quarter.
Twitter did see revenue coming in this quarter. The company was able to bring in $574 million this past quarter. The amount of money made per share also surpassed analyst expectations. They only expected shares to come in at 5 cents per share, but they came in at 12 cents per share.