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Twitter shares slump further on disappointing numbers

Twitter shares slump further on disappointing numbers
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Disappointment in Twitter’s progress has again hammered its share price.

The latest numbers from the online messaging service show that users are not looking at it as much as investors would like. Its timeline views per user, a measure of engagement, fell seven percent in the third quarter.

It also added just 13 million monthly active users, short of the 16 to 18 million some on Wall Street were hoping for.

Monthly active users are those who log on to the site at least once a day.

Twitter’s shares fell to their lowest level in four months on Tuesday, at one stage dipping below $42 each, though they did recover as bit towards the end of the trading session.

Before the latest quarterly numbers were released the stock was already down about 24 percent this year.

Also disturbing investors was the micro-blogging site’s guidance that its revenue growth will be lower in the next three months.

As it fights for traction against the likes of WhatsApp, Instagram and Facebook, Twitter is looking to make money through tie ups, like recent ones with audio-streaming service SoundCloud to play podcasts, music and other audio clips direct from message feeds, and France’s second largest bank BPCE for money transfers via tweets.

with Reuters

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