Analysts had been hoping the company would add around four million new users last quarter.
…Twitter had 328 million average monthly active users (MAU) in the three months through June 30, unchanged from the previous quarter [in which users fell, as noted elsewhere in the article].
…Twitter’s net loss widened to $116.5 million, or 16 cents per share, in the second quarter ended June 30, from $107.2 million, or 15 cents per share, a year earlier.
Twitter has never made a profit. And yet someone there decided it would be a good thing to create a left-wing Twitter censorship board. The Orwellian name of this thing is the “Public Trust and Safety Council” and it’s staffed by green-haired feminists and similar types. I repeat, because I am so incredulous: Someone at Twitter thought this was a good idea.
The business world has operational heuristics and rules of thumb like “What gets monitored gets done” and “A metric used as a target becomes a bad metric.” Eventually, one of these dicta will be, “Keep SJWs out of your organization at all costs.” A lot of organizations, like Twitter, seem determined to die rather than learn this lesson, though. But that’s cool. Evolution of social institutions doesn’t just work by learning; it also works by attrition. That is, by the death of those who refuse to learn.
UPDATE: It’s even worse than it seemed: Twitter admits to overstating users for years: