Twitter Admits of Overstating Monthly-User Figures For 3 Years

Illustration by Alex Castro  The Verge

Twitter has since revised some of its numbers, shaving off a whopping 1 to 2 million active users per quarter since the end of 2016. Daily actives grew 14% year-over-year, compared with increases of 12%, 14% and 11% over the preceding three quarters on an annual basis.

The San Francisco-based social media giant reported Q3 earnings per share (EPS) of $0.10, which was $0.04 better than the Wall Street consensus estimate of $0.06.

The company took in $590 million in revenue, which is down four percent from previous year but still $3 million more than analysts expected.

The social networking site's losses also significantly decreased-Twitter faced a $21 million shortfall this quarter, down from $103 million in the same period past year.

"This quarter we made progress in three key areas of our business: we grew our audience and engagement, made progress on a return to revenue growth, and achieved record profitability", Jack Dorsey, Twitter's chief executive, said in a statement.

The company did have to concede that it had miscounted its user figures in the second quarter, which masked a drop in its overall total.

Kid Rock Claims Steve Bannon Pushed Him To Run For Senate
His possible run against Democrat Debbie Stabenow had even engendered some interest from the GOP Senate Leadership Fund. The whole idea was a publicity stunt for his new album, but doesn't really regret it.

Rain moving in Monday ahead of cooler temperatures
MONDAY: Showers will be possible through Midday Monday, but by the afternoon and evening we should turn into mostly sunny skies. Sunshine and picture flawless , fall weather conditions to end the weekend, with highs in the upper 60s and low 70s.

Appeals Court: Teen Immigrant Can Get Abortion Over Trump Administration Objections
Brigitte Amiri, senior staff attorney with the American Civil Liberties Union's Reproductive Freedom Project, represents Doe. The attorney also said she could find a US sponsor, which is out of her hands and controlled by the government.

Twitter said the readjustment does not impact its daily average user counts, and added that due to its "data retention policies" it could not "reconcile periods prior to the fourth quarter of 2016". Now, the company claims that it has 330 million monthly active users, 69 million of which are based in the U.S., up from 68 million in the last quarter.

"This quarter we made progress in three key areas of our business: we grew our audience and engagement, made progress on a return to revenue growth, and achieved record profitability", Twitter CEO Jack Dorsey said in the October 26 press release.

Wall Street rejoiced at Twitter's performance-company stock was up almost 15 percent in morning trading.

The applications used a software development kit called Digits, "which did not relate to activity on the Twitter platform", read an excerpt from the letter.

Revenue: $590 million versus $587 million expected. The company believes that changes to the platform, making it easier to use, and more exposure from global events, account for the gain in new users.

Related:

  • Nearly Two-Thirds of Americans Favor Legal Pot

    Nearly Two-Thirds of Americans Favor Legal Pot

    And the rest of the country apparently approves, according to a new Gallup poll that shows Americans favor legalization at a higher rate than ever before.
    NY  bans vaping anywhere cigarettes are prohibited

    NY bans vaping anywhere cigarettes are prohibited

    Kiklas is the co-owner of an e-cigarette brand and the co-founder of the Tobacco Vapor Electronic Cigarette Association. As of this week, vaping wherever standard smoking is prohibited will also be banned in NY state.
    India approves recapitalisation plan for state-owned banks

    India approves recapitalisation plan for state-owned banks

    NC Saxena, former member secretary of the erstwhile Planning Commission? said that the banking sector is just part of the problem. Gross Domestic Product (GDP) growth has fallen to 5.7 per cent in April-June - the lowest in at least five quarters.
  • Amazon Q3 earnings top expectations

    Amazon Q3 earnings top expectations

    Amazon has changed the rules recently, and today we have news of the first for-pay skill on Amazon's voice assistant platform. Amazon slashed prices on a number of popular items at Whole Foods after it completed the merger.
    Sony Xperia XZ Premium Gets Android 8.0 Oreo

    Sony Xperia XZ Premium Gets Android 8.0 Oreo

    This will allow users to long press any icon to trigger a menu and jump to a specific task without having to open the application. The 3D Creator app basically scans face, head, food or any object and render it as a 3D image, which can be shared or 3D printed.
    House GOP launches probes into Obama-era uranium deal, Clinton email inquiry

    House GOP launches probes into Obama-era uranium deal, Clinton email inquiry

    The FBI also claimed it uncovered evidence that Russian nuclear officials had funneled " millions " into the Clinton Foundation. Nunes said Tuesday that he has not spoken with the White House about the uranium matter.
  • Flu shot clinics coming to Nanaimo starting next week

    Flu shot clinics coming to Nanaimo starting next week

    Cover your nose and mouth with a tissue when sneezing or coughing or cough into your upper sleeve or elbow, not your hands. People are often indoors during the winter, meaning that they are in direct or close-contact with one another more often.
    Sears stops selling Whirlpool appliances

    Sears stops selling Whirlpool appliances

    Sears announced it would close more than 300 Sears or Kmart locations this year as part of the cost-cutting campaign. Whirlpool has increased prices on its appliances, citing higher raw material costs.
    Microsoft beats forecasts as cloud boosts quarterly results

    Microsoft beats forecasts as cloud boosts quarterly results

    The actual numbers the company reported today were $24.5 billion in GAAP revenue and $0.84 in non-GAAP earnings per share. While the Azure cloud platform is included in this number, Microsoft sadly doesn't break out Azure revenue numbers.
  • Patriots Lose Dont'a Hightower for the Season

    Patriots Lose Dont'a Hightower for the Season

    Hightower has dealt with injuries over the course of his career as he's only played in all 16 regular season games once, in 2013. The New England Patriots' defense has been a major liability this season, and it looks like the situation is about to get worse.
    Dustin Pedroia Out For Seven Months

    Dustin Pedroia Out For Seven Months

    Other potential free-agent second basemen include Neil Walker , Howie Kendrick , Brandon Phillips and Danny Espinosa. Pedroia hurt the knee again this season, and spent two different stints on the disabled list with inflammation.
    'Injustice 2' (ALL) Coming To PC This Fall, Open Beta Tomorrow

    'Injustice 2' (ALL) Coming To PC This Fall, Open Beta Tomorrow

    Interactive Entertainment and DC Entertainment have announced that Injustice 2 is making its way towards Steam and Windows. The game is being developed by QLOC, who previously worked on the PC version of Kombat X , so it's in good hands.

Comments

Latest news

Cam Newton abruptly ends presser by rolling his eyes and walking off
Newton also received criticism for how he handled the media after the Panthers lost Super Bowl 50 to the Denver Broncos. After being asked questions about the team and this week ahead, Newton presented a displeased look on his face.

No contact with Everton as Dyche admits 'Grass isn't always greener'
Dyche admitted that he has been through such speculation " several times now and I just continue to get on with the job here ". Former England cricket captain Michael Vaughn has said that he believes that Sean Dyche will be appointed Everton manager.

Colin Kaepernick is shopping a book
His reps didn't get back to us. "And I think that would have gone against exactly what they said they were going to do". Colin Kaepernick did not attend the first meeting on national anthem protests .

Suffolk County District Attorney Thomas Spota to resign
Spota and McPartland pleaded not guilty at their arraignments Wednesday on charges they conspired to protect Burke. Loeb after he was arrested and shackled to the floor of a police station.

Yankees announce Joe Girardi is out as manager
During Girardi's 10 years with the team, the Yankees went 910-710, and were the winningest team in baseball. I would like to thanks Ben Tuliebitz for making our travel easy and always taking care of our families.

Missing teacher's husband left clues to location of a body; killed self
Theresa family said they will plan a proper memorial and thank the community for their continued support. Mullowney said the couple met on an online dating website in 2006 and were married in 2007.

What do economists make of the GDP figures?
Industrial production also rose in July and August but construction contracted for a second quarter in a row. Sterling shot up following the release , rising more than 0.3% against both the U.S. dollar and the euro.

Chelsea Confirmed Lineup vs Everton: Drinkwater makes Blues debut, Batshuayi up front
Everton hit straight back through Calvert-Lewin, who pounced to convert a loose ball after a strong run from Oumar Niasse. Idrissa Gueye is suspended for the game, after picking up two yellow cards against Arsenal this past weekend.

Kardashians ink megabucks renewal deal with E! through 2020
The KUWTK producer also gave props to Kylie , who is reportedly pregnant with rapper Travis Scott's baby. She plans to pass the empire along to their children and their children's children.

Google and Cisco Create New Cloud Powerhouse
Cisco software components will be licensed on an annual subscription basis including one-, three- and five-year terms. Cisco's customers are increasingly using cloud services instead of investing in hardware for their own data centers.

Konami teases Metal Gear Survive announcement for tomorrow
The game was originally supposed to come out this year, but was pushed to give the dev team more time to polish the game . Konami has confirmed that Metal Gear Survive will launch on PlayStation 4 , Xbox One and PC on February 22, 2018.

WTA Finals: Wozniacki reaches semis
It means Garcia, Svitolina and Halep will battle for the final semi-final position from the Red Group . I played a good game but it was too late. "So I know this was my chances, so I went for it.

Former FBI chief James Comey reveals secret Twitter account
Comey was sacked back in May by President Trump when he disagreed with his boss on a number of issues. Comey has more than 40,000 followers, a number that grew throughout the day Monday.

Laptop Found in Las Vegas Gunman's Hotel Room Missing Hard Drive
Court records show Bruce Paddock has previous convictions for vandalism, criminal threats and theft, according to NBC News . Bruce Paddock was taken into custody at an assisted living home in North Hollywood , the website reported .

Hudson's Bay to sell Lord & Taylor Fifth Ave building, shares jump
The 650,000-square-foot building will be downsized into office space for all but a remaining 150,000 square feet for the store by 2019.

Other news