Twitter Stock Plunges 21 Percent After Earnings Show Effects of Fake-Account Purge (marketwatch.com)

Twitter shares fell 21% on Friday as the company reported that user growth had turned negative, even as its quarterly results beat Wall Street expectations. The decline was even greater than Facebook's almost 19 percent plunge in shares after the social media giant reported disappointing results. MarketWatch reports: Twitter posted a profit for the third consecutive quarter, with its $134 million in net income equating to 13 cents a share. Adjusted per-share earnings came to 17 cents. The FactSet consensus estimate had been 16 cents. Twitter's revenue climbed 24% to $710.5 million to beat the FactSet consensus estimate by about $2 million. Even as executives talked about Twitter's bright future on the earnings calls, investors appeared to react to Twitter's slowing user growth, as its monthly user count went south, falling by 1 million to 355 million, as compared with the year's first quarter. The decline was expected after recent reports had the company purging about a million fake accounts a day.

Comments

They mostly just let him talk

[rsilvergun]

and didn't do very much criticism. They reported on his refusal to release his taxes but never once got into _why_ it mattered. I didn't actually know but picked up the corruption angle from the left wing press. I never once saw an interview with the many, many businesses he screwed over and/or never paid. The same goes for the stories about how he would have made more money sticking his daddy's fortune in an index fund than on his failed business ventures. And the affairs. He's got decades of them. Where was the research into that? We didn't find out crap until _after_ the election. He did a cameo in a soft core porn movie for Pete's sake.

Oh, meanwhile Felix Ungur of the Young Turks broke the news of MSNBC burying Bernie Sanders in favor of the corporatists Hilary Clinton and that news barely registered.

Re:With the exception of the LA Times

[Anonymous Coward]

I can't speak about local stations, but CNN, MSNBC and Fox News (apart from Chris Tucker and Sean Hannity) have been absolutely hell bent on painting the most negative picture possible of Trump and his supporters. For two years straight. As have basically every late night comedy/talk show, SNL, and most big online news sites.

Stop smoking crack.

And this is the result of so-called "investment"

[Puls4r]

The average person the street is not smart enough to understand that "investors" have not a damn thing to do with real performance. They'll see this and think that somehow twitter is not a profitable or sustaining company, despite the fact that their profits are good.

What we have is irresponsible profit-driven reporters who want short clips rather than explaining what this actually means.

And in the mean time, we have a bunch of idiots who are so absorbed with another idiots that all they want to do is talk politics and trash talk eachother.

This easily could have been titled "Childish investors with no foresight have knee-jerk reaction to something that was already predicted." Or perhaps "Company does the right thing, angers investors."

Stock price no longer has any real tie in with the success or failure of companies. It's just a ticker number that people who participate in real-life gambling pay attention to.