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Thursday, July 27, 2017
Twitter Struggles to Attract New Users

Twitter disappointed investors with stagnant monthly active user growth in the second quarter.

The company reported a wider quarterly net loss and lower revenue, and said it did not expect its total revenue growth to pick up in the second half of the year.

Twitter had 328 million average monthly active users (MAU) in the three months through June 30, unchanged from the previous quarter.

In the United States, Twitter's average monthly active users fell to 68 million from 70 million in the first quarter.

Twitter's second-quarter net loss widened as it took a $55 million impairment charge related to an investment writedown and revenue fell 4.7 percent.

The company has been trying to boost revenue through livestreaming deals, but had a setback in April when it lost a deal to stream U.S. National Football League games this year to Amazon.com.

Advertising revenue fell 8 percent to $489 million, but well exceeded the $458.1 million estimate.

Twitter's net loss widened to $116.5 million in the second quarter ended June 30, from $107.2 million a year earlier.

Revenue fell to $573.9 million, the second time it has fallen since Twitter's market debut in 2013.

The company has struggled to sustain its user growth even as it invests in features and live content to help draw viewers and boost user engagement.

Twitter said in a letter to investors that the company does not expect its total revenue growth rate to improve in the second half of 2017 "due to headwinds in the second half (of approximately $75M) associated primarily with de-emphasized revenue products."

But the company said it is looking to data licensing, which it claims is its fastest-growing product area, to turn around revenue in the future.

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