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Twitter Inc. Shares fell 17% at the opening session Friday on the New York Stock Exchange, reaching $ 36.24 per share, after the company announced that the number of shares Monthly users decreased by one million in the second quarter of this year. The company also estimates that the decline will continue as the social network continues to fight against false news and spam, reports Reuters and Bloomberg.
Twitter's depreciation comes just a day after Facebook headlines saw a 20% drop on the New York Stock Exchange in a context of slowing growth in social media revenue in the context of Cambridge Analytica scandal. ] Twitter explained that the decrease was due to intensified efforts to "clean up" the platform, stricter data protection rules in Europe and changes to the messaging service.
"We are confident that it is the long-term benefit of the platform to improve the health of public conversations on Twitter," the company said.
The company today announced 335 million monthly users, down from 336 million in the first quarter
"We are confident that it is the long-term advantage of the platform to improve the health of public conversations on Twitter, "the statement said.
On the other hand, Twitter announced net profit for the third year in a row, which contributed to 79% of the stock price this year, to $ 42.94 at the close of the stock market Thursday. For the third quarter of 2018, the company estimates earnings of $ 235 million, slightly lower than analysts' estimates of $ 268 million.
Twitter Executive Director Jack Dorsey said his priority was to reduce abusive conversations across the platform.
In the second quarter of this year, Twitter revenue increased 24% to $ 710.5 million, above analysts' estimates of $ 697.3 million. Net income was $ 100.1 million, or 13 cents per share, compared with a loss of $ 116.5 million or 16 cents per share.
Roxana Vasile
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