Twitter’s sorrow is getting deeper as the loss reaches to $167m
On Thursday, twitter has reported the slow increase in the revenue of company as twitter is losing its users and in this way company has to go through large number of economic loss in the past quarter.
Shares of the twitter have been collapsed by 9.2% showed by the pre-market trades which have marked its competitors as moving forward.
Almost net loss of $167 million has been reported by the twitter. Last year, loss of $90 million was marked by the company.
At the end of the year 2016, twitter had 319 million monthly active users, only the gain of 4% had been marked from the last year.
During the quarter the profit was rose up to 1% only. Twitter is renovating its services as it wants to expand its user’s base of politicians, celebrities and journalists.
According to an analysis, the reason for decrease in users of twitter is due to the Donald Trump after the elections of US, as Donald trump eagerly use the twitter.
“In 2016 we have explored the reasons behind the use of twitter, that why users use twitter. Because it is the more effective and fastest way of getting information about the surroundings” said by Chief Executive of twitter Jack Dorsey.
He further added that now with passing days we are getting positive change in the rate of active users.
Company said that it will continue struggling in achieving its goal and getting maximum profit.