For the first time since November 7, 2013 Twitter stocks have plummeted below their IPO price. This will result in growing pressure on the company from the potential buyers. August 20, during a NASDAQ session, shares fell to $25.92 apiece and closed at $26.
According to the company’s second-quarter results, the number of microblogging users reached 316 million against 308 million in the first quarter. However, later it revealed that people who are accessing Twitter exclusively via SMS were also counted.
Back in April, Twitter’s Chief Financial Officer Anthony Noto told about the plans to take into account so called SMS fast followers. The actual growth of audience was 2 million people.
Analysts expect monthly active users to grow by 14.1% against 30% two years earlier.
The company’s revenue rose to $502 million and earnings per share amounted to $0.07 that is $0.03 more than forecasted.
Besides, a high staff turnover has begun at Twitter: over 450 employees left the company which is 12% of the staff. At the same time the number of employees around the world went up by 18%.
Early July, Dick Costolo stepped down as chief executive, with co-founder Jack Dorsey taking his position.
