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Twitter loses 1 million users in Q2, stock plummets (Lead)
San Francisco, July 27 (IANS) As it began to crack down on spammy and inactive accounts, Twitter on Friday reported a drop of 1 million users in the second quarter of 2018 — with monthly active user count going down from 336 million in the last quarter to 335 million.
The news led to Twitter shares plummeting over 19 per cent in the morning trade.
The quarterly results confirmed that Twitter has lost a measurable number of active users as it started removing inactive and locked accounts as part of its clean-up exercise in the second quarter.
The micro-blogging platform reported $711 million in revenue — an increase of 24 per cent year-over-year.
The advertising revenue totalled $601 million — an increase of 23 per cent year-over-year. The US revenue hit $367 million while global revenue was $344 million.
Average daily active users (DAU) increased 11 per cent (year-over-year) — compared to 10 per cent year-over-year growth in Q1, Twitter said in a statement.
“Our second quarter results reflect the work we’re doing to ensure more people get value from Twitter every day,” said Twitter’s CEO Jack Dorsey.
“We want people to feel safe freely expressing themselves and have launched new tools to address problem behaviours that distort and distract from the public conversation,” he added.
The company said it will continue to invest in improving the health of the public conversation on Twitter, making the service better by integrating new behavioural signals to remove spammy and suspicious accounts.
Twitter recently acquired Smyte, a company that specialises in spam prevention, safety and security.
“We’re also continuing to make it easier for people to find and follow breaking news and events, and have introduced machine learning algorithms that organise the conversation around events,” said Dorsey.
As of May 2018, said Twitter, its systems identified and challenged more than 9 million potentially spammy or automated accounts per week, up from 6.4 million in December 2017.
“Due to technology and process improvements during the past year, we are now removing more than two times the number of accounts for violating our spam policies than we did last year,” said Twitter.
The average number of spam reports it received through the reporting flow continued to drop — from an average of approximately 25,000 per day in March, to approximately 17,000 per day in May.
“The new protections we’ve developed have already helped us prevent more than 50,000 spammy signups per day in June,” it added.
According to Ned Segal, Twitter’s CFO, the company is maintaining profitability while make investments in the business.
“Looking ahead, we remain optimistic about our ability to execute on our priorities and deliver value for advertisers and shareholders,” he said.
–IANS
na/vd
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.
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