Innovative ideas are carried out in the adoption and application of new technology with rapid speed. Similarly, after reporting depressive results this week, micro-blogging website Twitter is presumed to no longer behave poorly against social networks, for instance, Facebook and it’s recently categorizing itself under the specific section of “news” in the Apple’s App Store.
Twitter has categorized under the ‘news’ section of the App Store instead a social networking site by today. A website named Endgadget reportedly has stated for Twitter that, “it is a change that makes a lot of sense and fits with both how Twitter has positioned itself as well as how it is being used,”.
All of us familiar that Twitter is famous for real time news feeds and events and unlike Facebook, it is paid less attention when it comes to remaining in touch with friends. It is more about following the people who share things with us, the things we find interesting and relevant to ourselves though we may not know.
A report noted that probably the biggest new feature of Twitter Moments was the service launched in the last year and it again shows its focus on all sides with regard to curating the best surrounding events momentarily. These changes have probably brought Twitter to gain more visibility than it previously has, and it is now the number one free app in the news category of the App Store.
Forbes reported that the company posted $595 million revenue in the first quarter ending March 31. It was up 36 percent from $435.9 million in the same quarter last year but missed the $607.9 million expected on average among analysts. The shares of Twitter fell sharply about 12 percent particularly after the micro-blogging website – which managed to add 5 million people to take its monthly active user base to 310 million and thus missed the first quarter revenue estimates this week.
Twitter managed to post a net loss of $79.7 million compared with a year-earlier loss of $162.4 million. Twitter has predicted revenue for the second quarter between $590 million and $610 million — much lower than the $678 million analysts expected.
It was reported by Twitter CEO Jack Dorsey that we remain focused on improving our service to make it fast, simple and easy to use. The company tweeted that, “Revenue came in at the low end of our guidance range, as brand marketers did not increase spend as quickly as expected in Q1”, and according to Dorsey, the engagement on Twitter is growing. Direct messages are up about 50 percent on yearly basis and tweets shared via direct message are up more than 75 percent quarter-over-quarter. As per report, Twitter is said to have more than 800 million people visit the site and there are more than 1 billion monthly unique visitors to the pages that syndicate Twitter contents.
This point to the fact that Twitter’s stock has fallen over 20 percent this year because of a slow pace of growth yet Facebook is ahead.