Twitter adds no users in Q2

Twitter shares drop 9 percent as it fails to deliver user growth

Twitter shares were off 12.8 percent at $17.09 in late-morning trades Thursday. Analysts expected Twitter to see a slight increase of MAUs to 328.8 million.

However, on a year-over year-basis, revenues fell 4.7%.

In the third quarter, Twitter expects adjusted earnings before interest, tax, depreciation, and amortization of $130 million to $150 million, but the company has a long way to go to convince investors that it has found a path to sustainable long-term growth.

Among investors, the bigger problem with Twitter has been the site's user base. The company posted revenue of $574 million against the expected $536.7 million by Wall Street. That's despite engagement with ads - the amount people view or click on them - growing 95 percent.

Cost per engagement (CPE) decreased 53% year-over-year.

Twitter earned almost 41.6% of its revenues from global markets. For a company that increased its MAUs by 5% Y/Y this quarter and 3% a year ago, that's an over-generous valuation.

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Twitter, which became a publicly listed company in November 2013, has been looking to increase revenue through live-streaming deals. As of December 31, 2016, we had USA federal net operating loss carryforwards of approximately $3.5 billion and state net operating loss carryforwards of approximately $1.4 billion. For the quarter, cash flow from operations was $189.7 million and adjusted free cash flow was $214.6 million.

Under the prior method, non-GAAP net income for the quarter would have been $87 million and non-GAAP diluted EPS would have been $0.12.

Twitter's stock value crashed on Thursday following the revelation that user growth had stagnated, however, falling 14% at the time of this writing. Twitter's ad revenue fell 8% year over year to $489 million.

Monthly active users were up 5pc to 328m, but static compared with previous reports. Also, revenue growth rate is decelerating. Second is continued strong growth in video with a very strong 2017 digital content new fronts. In Q2, it delivered more than 1,200 hours of live premium video, up from 900 hours in Q1 and double the 600 hours it pumped out in Q4. But all these are yet to move the needle for Twitter.

The platform has stiff competition with other social media platforms for advertising such as its rivals Snapchat and Facebook. Twitter is rapidly trying to roll out products that will help make the service better, like trying to curb harassment and making the service easier to use with algorithmic feeds.

From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. That, however, looks even further away today than it did yesterday. Despite all the innovation, there is a single component no tech company can survive without.

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