When it comes to social media platforms, Facebook and Twitter probably come to mind and they both exist for different reasons and for different purposes. While Facebook appears to be growing, the same cannot be said for Twitter, who in their latest financials revealed that they have lost both users and money.
According to the numbers, it seems that Twitter has lost as many as 1 million users in the previous quarter. Twitter had initially claimed back in April that they were seeing a 14% bump in the number of monthly active users, but according to Engadget, the latest figures show that the number of users have remained the same, with growth international markets being offset by losses in the US.
The company also appears to be losing money, where they reported a loss of $116 million in the quarter, versus the $107 million they lost in the same quarter last year. The money made from advertisers has also dropped from $535 million Q2 2016 to $489 million in Q2 2017, although Twitter seems to be pretty optimistic about it and claims that this is due to some one-off changes.
That being said, the company has been facing quite a bit of backlash from its users over their failure to protect them from trolls and cyberbullies. We’ve seen many instances of how users have harassed each other to the point where many have quit the platform, although to be fair the company has been trying to improve on that and have recently stated that there is significantly less abuse today.