Twitter Stock Plummets After Reporting ZERO New Users for 2nd Quarter

Getty Images for Thurgood Marshall College Fund

Twitter on Thursday reported lower second-quarter revenue and flat monthly active usage, but beat expectations on earnings. But after adding a surprising nine million new users last quarter, some hoped that was a sign Twitter's business growth would eventually follow.

Second-quarter revenue was $574 million, down 5 percent from a year ago, but beating an analyst expectation of $537 million.

Daily active users, toward which management has recently been trying to shift investor attention, were up 12% year over year. Revenue fell 4.7% and the company's net loss also widened, affected by a $55 million writedown of the value of its investment in SoundCloud, the German music streaming service. The company claims that it's growing at 12 percent for the quarter compared to 2016, but investors aren't going to be thrilled at Twitter's audience essentially stagnating.

XAutoplay: On | OffTwitter reported revenue of $574 million, down 5%, but beating the consensus estimate of $537 million. Dear Shareholders, We look forward to discussing our second quarter 2017 financial results with you at 5am PT today. Analysts had anxious about stagnating user growth for Facebook as well, but the network still managed to grow its daily active users to 1.32 billion daily active users - up from 1.28 billion the previous quarter. Monthly average users (MAUs) of 328 million remained unchanged from the prior quarter but grew 5% year over year.

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"We're strengthening our execution, which gives us confidence that our product improvements will continue to contribute to meaningful increases in daily active usage", said CEO Jack Dorsey. Revenue growth for the company has largely been stagnant for the past few years and for the rest of 2017, Twitter said that it doesn't expect to see improvements in revenue growth rate.

What matters to advertisers, however, is both that plenty of people are using Twitter, and that they're clicking on the ads that they pay for. Also, it's worth to mention that adjusted EBITDA was much higher than management expected ($105 million expected vs $177 million actual).

"Our focus has been on daily active usage", Anthony Noto, Twitter's chief operating officer, said on the call.

Worldwide, average monthly users - a key metric for social networks - stood at 328 million in the second quarter, the same as the first.

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