Twitter slid 14% lower when the social media company failed to meet Wall Street expectations. Wall Street anticipated EPS of $0.2, but the company reported to $0.17 per share on revenue.
An “advert bug” allegedly affected the microblogging site. Moreover, the said bug affected the website’s ability to target ads at users and share data with their clients.
The company reported revenues of $824million last quarter. Wall Street expects them to earn between $940 million and $1.02 billion in the fourth quarter.
Their record revenue was $908 million in the final quarter of 2018. It recorded strong monetizable growth by 17% year-over-year, which the company claimed was from ongoing product improvements.
The social network declared its effort to create a healthier environment in the platform to minimize harmful and abusive behavior.
Another social media giant Facebook Inc. slumped 1.45% at 183.49. Investors question the platform as a challenge to global democracy.
Snap Inc. stock continues to fall by 2.05% at 12.93 as it struggles to catch up to social network competition.
Technological index Nasdaq 100 rose 0.42% or 32.29 points at 7.922.81.
How Twitter Plans to Recover
Twitter continues to face criticism over its indirect impact on negative conversations on its platform. As a response, the micro-blogging platform launched a tool to hide replies from specific users.
The company rolled out the new features to help users control their experiences on the website.
CEO Jack Dorsey said the company is still working on improving relevance. He claims the platform is also making progress on health and the ability to identify and remove abusive content.
The social media company rolled out new features to make it easier for users to control their experiences in their site. In September, the company started allowing people in the US and Japan to hide their replies as part of an experiment Twitter is conducting to fuel more positive conversations.