This quarter last year, the company reported 284 million monthly active users. Wasn’t pretty. Last quarter the company reported 316 million active users to which then-interim-CEO Jack Dorsey said “we are not satisfied.”
US growth didn’t move for the third straight quarter.
Twitter’s stock was up nearly 2 percent before market close, but bouncy (“stock is jumping around like a bean on a skillet in a fire on top of the rockies” said Alex Wilhelm), and just dropped over 10 percent on earnings hit.
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Dorsey had this to say on Twitter’s roadmap and quest for true growth:
We’ve simplified our roadmap and organization around a few big bets across Twitter, Periscope, and Vine that we believe represent our largest opportunities for growth.
It’s definitely going to take time to make up the lacking signed-up audience, but the products that Dorsey has the team focused on are meant to bring them in. The company said that it reaches over a billion eyeballs, which is probably true, it just needs to convert a slice of that into signed up users. If Moments and Polls don’t do it for them, the company is going to have to keep the tweaks coming. I suspect they will.
Many, including me, think that the Direct Message product is ripe for ripping out as a separate app, à la Facebook’s Messenger. A platform built upon that product could surely help, too.
With a new CEO, COO and streamlined engineering teams and roadmaps in place, a lot is changing. But sadly growth hasn’t yet, which is what’s angering Wall Street.
Want to watch the earnings call? Join us on the Periscopes.