Ad Targeting Problems Trigger Twitter Stock Plunge

by Amitabh Joshi 3 years ago Views 1834

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Twitter shares dropped over 20% after the social media giant declared its Q3 results, missing its earning and revenue estimates. The company blamed bugs relating to ad targeting problems for the performance. "Unfortunately we had some missteps and bugs," chief executive Jack Dorsey said. "These are issues we identified quickly and are working quick to fix”, he added.

The company saw an issue with passing on unintended user data to advertisers.

The company stated the Average US mDAU( Monetised Daily Active Usage) was 30 million, compared to 26 million in the same period of the previous year and compared to 29 million in the previous quarter. 

The  Average international mDAU was 115 million, compared to 98 million in the same period of the previous year and compared to 110 million in the previous quarter. Average monetisable DAU (mDAU) grew 17% year-over-year, reaching 145 million in Q3.

Q3 revenue was $824 million, up 9% year-over-year.

“Operating income of $44 million reflects lower-than-expected revenue and no significant changes to our ongoing investments”, the company stated. 

                                                     TWITTER HAS REPORTED 14.5 CRORE DAILY ACTIVE USERS

“In Q3 we gave people more control over their conversations on Twitter with the launch of author-moderated replies in the US, Canada, and Japan, and we improved our ability to proactively identify and remove abusive content, with more than 50% of the Tweets removed for abusive content in Q3 taken down without a bystander or first-person report”, Twitter said. 

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