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Total Economy: 0.01 USD
Twitter's latest quarter revenue fell by 18% to $683 million and their net income (loss) was whopping $1.2 billion. What do you think?
Think the stock went in the wrong direction after the report, as did $SNAP's whose stock went down almost 20% from its recent high after they reported like +17% growth. Absurd, and all because Wall Street bit the "candy" laid out by Dorsey that Twitter was considering subscription services. Twitter would be decimated by a for-pay service. What they'd gain in revenues would be lost in defections by users or influencers.
The Business model seems unsustainable. The company may go bankruptcy. You can see, Facebook is the profitable Business. But, Twitter is the loss making. They need to rethink the Business
Probably partly due to the lockdowns and a downturn in advertising revenue. But still doesn't look good.
trustyfly replied:
Social media has been more popular since the lockdowns, my theory is all the blocked conservatives.
jolon replied:
Yes, Twitter has actually grown in number of active users even though revenue is down. I wonder if the growth in users is partly to do with following information about COVID and riots, and could drop off when things calm down.
Twitter Job opening. "We are a new team, codenamed Gryphon. We are building a subscription platform, one that can be reused by other teams in the future. This is a first for Twitter!" https://careers.twitter.com/en/work-for-twitter/202006/senior-full-stack-software-engineer0.html
jolon tipped:
0.01 USD
1 year ago