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Twitter announces lower than expected revenues for the first quarter of 2016
Published Twitter on Tuesday financial results for the first of the year for the quarter, which showed a slump in revenue growth with the struggle of the company in order to attract more users and improve complex user interface with the launch of new features , more and more.
Twitter shares have tumbled 13.6% to US $ 15.34 in late trading yesterday after the earnings recorded lower than expected, hurt by weaker-than-expected spending of large advertisers, and that these revenues were far below analysts’ expectations.
The company said that the number of active users per month rose to 310 million users in the quarter ended on 31 March / March 2016 from 305 million in the fourth quarter of last year.
He justified the lack of Twitter advertisers spending they still spend on old products, such as promotional tweets, with that users are spending more time watching and sharing video.
Chief Financial Officer Anthony Noto said Twitter aims in the long term to attract millions of advertisers like its competitors, as Facebook have more than 3 million advertised.
For his part, CEO Jack Dorsey said that the recruitment of talent is a top priority for this year, especially in the engineering and product teams. This, Twitter has lost several senior executives earlier this year, and has since added two new members of the board and CEO of the new marketing.
The revenues Twitter for the first quarter of this year rose by 36% compared to last year to 594.5 million, but came in below analysts’ expectations, which were estimated at 607.8 million dollars.Viewing:-93
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