Twitter breathes a sigh of relief with first quarter earnings

To say 2016 was a pretty bad year for Twitter is an understatement- the competition aka Facebook, Instagram, and Snapchat all reached new heights in terms of user volume and features that caught on with users. Twitter’s growth, on the other hand, has been a steady slowdown – experiencing the least growth among the four companies.

But, push back they did. After sharing their first quarter earnings report, highlighting a 14% growth in userbase, and CEO Jack Dorsey buying 500,000 more shares of the company, Twitter is seeing a soar in its stocks – something it hasn’t seen in a while. This was due to the anticipation of tech insiders about the consistent decline of Twitter, which, surprisingly, they have overcome in Q1 of 2017. Was there a decline in growth? Yes, but their earnings report stated that their revenue was $548 million with earnings of 11 cents per share, which is a significant increase compared to the $511.9 million and 0.01 cent per share that Wall Street predicted.

 

 

In addition, Twitter also announced a partnership with Bloomberg on their 24/7 TV channel. This gives the platform a bigger avenue for advertisers to fill in. The overall interface was altered to provide better and friendlier user experience, the character limit was increased by taking out the @names on the character count, a new explore tab was added, and abusive behavior is being monitored.

“We gave people more characters for their replies by removing @names from the Tweet text, we’re building a unified API platform, and we’ve launched new Direct Message APIs, creating a more cohesive product experience for consumers and developers,” the company said.

Competition is steep, but Twitter is fighting on headstrong. If they continue the pace, they might be able to keep up with the other social media giants and grow their business as promising as when they first came onto the scene.

 

Twitter

Jack Dorsey, Twitter