- The Washington Post reported late Friday that Twitter deleted 70 million accounts in May and June, confirming the company to Business Insider.
- Twitter shares fell more than 8% as markets opened on Monday.
- The blockages could impact Twitter account growth metrics if it reports revenue this month.
- Follow the Twitter stock price here in real time.
Twitter dropped more than 8% on Monday morning after the Washington Post reported that the social media company had cleared more than 70 million accounts in May and June. Although the report was released on Friday, it was only after the markets had closed.
The rate of account lockouts has more than doubled since October, when Twitter announced to Congress that it had found evidence of Russian bot accounts designed to intervene in the 201
In a statement, a Twitter spokesperson told Business Insider that "this is nothing new and part of our ongoing work to improve the health of public entertainment on Twitter."
On Saturday morning, President Donald Trump praised Twitter's deletion of accounts and urged the firm to also suspend accounts of the New York Times and the Washington Post.
"Twitter eliminates fake accounts in record time" Trump tweeted . "These include the Failing New York Times and the Amazon propaganda machine, the Washington Post, which constantly cites anonymous sources that I do not believe exist – they'll both be out of business in 7 years!"
Suspensions could impact Twitter's daily and monthly active-user statistics as it reports second-quarter results before the opening bell on Friday, July 27, an anonymous source told the newspaper , However, a Twitter spokesman said he never included spam accounts in the active user numbers that he shares with shareholders.
"It's hard to believe that 70 million accounts are affected when Twitter has only 336 million active users per month (MAU)," said Michael Pachter, an analyst at Wedbush, Reuters. "My guess is that a large number of these locked accounts rested … it should have little impact on the company. "
Twitter shares have increased 75% since the beginning of 2018.