Twitter shares dive after the drop in the number of users



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The Twitter action fell 14% at the opening of Wall Street after announcing quarterly results for the social network network, which showed a slight drop in the number of users.

Shortly after the opening of the New York Stock Exchange, the stock price fell 14.28% to $ 36.80. It was down more than 20 percent in the electronic exchanges that preceded the opening of the exchange.
Twitter reported profits of $ 100 million in the second quarter, after a loss of $ 116 million a year ago, with revenues up 24% to $ 711 million.

But the San Francisco-based firm said its monthly active users fell from 1 million a quarter earlier to 335 million in a campaign to counter fake accounts.
Twitter predicts that the number of users will decline after the current quarter, adding that the drop is due to "prioritizing the platform" and to a lesser extent to the European data protection systems.

General Manager Jack Dorsey said the results reflected the investment in a "long-term sound track" for Twitter, citing efforts to stop inappropriate behavior.

Twitter's stock price has risen more than twice in the past year due to sustainable profit indications after years of repeated losses.

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