Twitter didn’t grow its monthly user base at all last quarter, despite beating Wall Street’s expectations for revenue.
The company’s completely stalled user growth during its second quarter sent shares diving more than 7% in pre-market trading on Wednesday.
Investors are looking for signs that Twitter can continue to turn its struggling business around by adding new users and edging towards profitability. Twitter reported its first ever year-over-year decline in revenue for Q1, but still managed to blow past user growth estimates by adding 9 million more monthly actives.
Here are the key numbers from Twitter’s Q2 earnings:
- EPS (adjusted): $ 0.12 vs. $ 0.05 expected.
- Revenue: $ 574 million vs. $ 537 million expected.
- Monthly active users: 328 million, flat from the previous quarter and an increase of 5% from the year-ago period.
This story is developing. Check back for updates.
