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Home / Business / The Twitter share drops by 20 percent after a purge of counterfeit and suspicious accounts

The Twitter share drops by 20 percent after a purge of counterfeit and suspicious accounts



The fight against hatred, abuse and online trolls also damages Twitter's position towards investors.

The company's stock plummeted on Friday after seeing a decline in its monthly users and warned that the number could continue to fall in the coming months. The 20.5 percent crash comes one day after Facebook has lost 19 percent of its value in a single day.

Twitter says it is placing the long-term stability of its platform above user growth. This does not seem to allow investors to value what the largest companies in the industry rely on their potential user reach.

Twitter had 335 million monthly users in the quarter, including Wall Street's expected 339 million and less easily from 336 million in the first quarter. This overshadowed a strong monthly user growth of 3 percent over the previous year.

The company said monthly user numbers could continue to decline in the mid-single-digit millions in the third quarter.

During Friday The second largest loss of Twitter since the IPO in November 201

3 has doubled in the last 12 months.

Lange criticizes that bad behavior is rampant on his platform to run Twitter has begun to crack down on prohibiting accounts who violate his terms and make others less visible.

Twitter is now trying to stem the worst offenders after years as one of the Wild West of the Internet.

At the same time, it has to convince people that it's the go-to platform in social media, even though Facebook is currently overshadowed.

Facebook has more than 2.23 billion users, while its WhatsApp, Instagram and Messenger apps each have over $ 1 billion.

Twitter on Friday repeated his efforts: invest in improving the health of public conversation "on his platform, the" long-term health "of his service a priority over short-term metrics such as user numbers.

As part of this effort, Twitter said, Since May, the systems have identified and claimed more than 9 million accounts per week that are potentially spam or automated, compared to 6.4 million in December 2017. The company has previously reported these figures.

A Washington Post report issued The total number of suspended accounts in May and June was $ 70 million, and the Associated Press also noted that Twitter blocked 56 million such accounts in the last quarter of 2017. Twitter claims that most of these accounts are down and not monthly User count, the company also warned that its cleanup efforts The number of users could have an impact without specifying specific numbers.

"We want people to feel secure, express themselves freely, and develop new tools to deal with problem behaviors that distort and distract public discussion," said CEO Jack Dorsey in a prepared statement. 19659002] Twitter's market value fell more than $ 6 billion on Friday to around $ 26 billion. Investors still estimate Facebook at $ 503 billion. Facebook lost $ 119 billion on Thursday.

Twitter's second-quarter net income reached $ 100.1 million after a loss last year over the same period. It's the third consecutive win in the company, the third one it's ever released.

Per share, the San Francisco Company's net income was 13 cents or 17 cents, which is in line with expectations, according to a survey by Zacks Investment Research

of $ 710.5 million, up 24 percent and expectations of 696 million dollars

Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data Zacks Investment Research. Access a Zacks stock report on TWTR at https://www.zacks.com/ap/TWTR

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