Shares of Twitter stock have fallen more than 10% posting their revenue for the second quarter. Analysts projected a higher revenues with a weaker third quarter performance. The social network also suffered a dismal performance growth in users. That number increased only by 3% in the past year. This was noted as the eight consecutive quarter that the company’s revenue declined. According to Yahoo Finance, the decline has been long-suffering for Twitter and is causing major losses. Though more money is being earmarked for marketing, it isn’t showing in their day-to-day performance.
In the second quarter, which ended June 30th, revenue was at just-over $600-million, up 20% from the same time last year. Still, analysts projected it would do $606-million. The company had previously looked to numbers between $590 and $610-million for their second quarter performance.
In the end, the company posted a net loss of a whopping $107-million, which equates to losing 15-cents per share. Their earlier losses were $136-million, equating to 21-cents per share. Twitter spokespeople stated that had it left off “certain expenses” it would have been at an earning cap of $93-million and ended with 13-cents per share as a result.
Growth in users is the center of declining revenues for the company. With just a 3% increase, they aren’t growing as they anticipated. Monthly active Tweeters increased by 313-million throughout the second quarter, which was up slightly from 310 the quarter prior. Year-over-year growth ending in March, showed the growth of 3% again, and 6% in the third quarter.
Expenses as posted, still excluding certain items throughout the second quarter, great to $508-million, or 15% increase partially because of higher expenses related to marketing, infrastructure building and acquisition.