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Twitter shares fall after weak quarter, user growth

shares fell more than 12% after the social media company missed user growth in the first quarter and offered less than expected for the future.

The company said after the market closed on Thursday that its average monetary daily active users rose 20% year-over-year to 199 million, but analysts raised 200 million. Despite disappointing user growth figures, beat expectations on and earnings, though it was not enough to convince investors.

reported a $ 1.04 billion increase in in the first quarter, up 28% from $ 808 million a year earlier, when the epidemic began hitting corporate income. Twitter reported a $ 68 million profit this quarter, down from a loss of $ 8.4 million a year earlier.

In another blow to investor sentiment, announced guidance for the second quarter that was on the lower end of expectations.

The company said it expected revenue of between $ 980 million to 1.08 billion in the second quarter, while analysts expected guidance of $ 1.06 billion.

Jack Dorsey Twitter
On the subject of content moderation, CEO Jack Dorsett said he did not think Twitter “should be the arbiter of all these things.”
Getty Images for Chrome Heart

On a conference call with analysts, CEO Jack Dorsey provided some insight into how the company is thinking about content moderation. The company has faced criticism for suspending accounts, including The Post, and limiting access to stories that it violates its own rules. However some say that it has failed to clearly define the rules of its platform.

Dorsey said the company wanted to give users more tools to contribute to content moderation because they don’t think Twitter “should be the arbiter of all these things.”

“It should be more of a crowd knowledge and we are trying to find that right balance,” he said.

Donald Trump Twitter
has been a different place since former President Donald Trump’s permanent ban.
Getty Images

The earnings gave investors their first glimpse of how the company could perform without former President Donald Trump, who was banned from the stage after the January 6 riots at the Capitol.

Trump used the social media platform more and unsympathetically than any other elected official that some have credited with helping grow in recent years.

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