Twitter said it's been overestimating its monthly active users for years, and Wall Street doesn't seem to care. The daily active user count was not affected and grew 14% since this time past year.
On Thursday morning, Twitter released its quarterly earnings in a letter to shareholders.
Twitter has never had a profitable quarter based on generally accepted accounting principles (GAAP), but it said yesterday, "we will probably be GAAP profitable" in the fourth quarter, if it reaches the high end of its own estimates.
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Its second quarter monthly active user total, for example, was actually around 326 million, not 328 million as originally reported.
Twitter revealed Thursday it had included users of third-party applications that should not have counted as part of the social media company's user base.
Wall Street rejoiced at Twitter's performance-company stock was up almost 15 percent in morning trading. The third-party app that led to the monthly user miscalculation, Digits, allowed Twitter users to log into other online services using their Twitter credentials. But that was after the company restated MAUs slightly because it incorrectly included users of third-party apps - for example, it reduced the monthly users count by 2 million for Q2 2017. The company said it didn't have exact data for periods before the fourth quarter of 2016, but that those losses would be the same or smaller than the four quarters reported.
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The League needs to support and encourage this work and expand its scope so that it can, as Reid said , "provide a better platform".
Total advertising revenue decreased eight percent compared to the same time past year to $503 million, but revenue from data licensing and other sources increased 22 percent to $87 million.
Twitter has also been criticised for not taking enough efforts to stop abuse and harassment on the platform. That will see the burgeoning company report a positive income for the first time, and may prove to investors and the wider world that Jack Dorsey's plan to revive Twitter is worth persisting with.
Shares in Twitter have rocketed in pre-market trading on the back of a return to user growth, up more than eight per cent - and it even predicted that it is nearing profitability for the first time.
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However, we had also said that there was a high possibility for the update to reach other markets much earlier than Japan. The Xperia XZ1 and XZ1 Compact , which already run Oreo, should receive the fix by the end of November.
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