Twitter Admits of Overstating Monthly-User Figures For 3 Years

Twitter Stepping Up Efforts to Make Its Platform Safer

Twitter said the readjustment does not impact its daily average user counts, and added that due to its "data retention policies" it could not "reconcile periods prior to the fourth quarter of 2016".

On Thursday morning, Twitter released its quarterly earnings in a letter to shareholders. Worryingly for the company, its US advertising revenues fell 11% compared to the same period a year ago, although this was more than offset by booming global advertising advertising revenues, which grew by 6%.

The Wall Street Journal reports that a Twitter spokeswoman reportedly admitted that the company had been including users of a service for third-party apps as monthly users when they should not have been counted.

"This quarter we made progress in three key areas of our business: we grew our audience and engagement, made progress on a return to revenue growth, and achieved record profitability", Jack Dorsey, Twitter's chief executive, said in a statement. It now claims to have 330 million active users - meaning an uptick of 4 million rather than 2 million. Twitter previously believed that their user base had stayed flat during the second quarter.

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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.

Wall Street rejoiced at Twitter's performance-company stock was up almost 15 percent in morning trading.

Twitter reported revenue of $590 million and 10 cents earnings per share, beating expectations of $586.7 million and 5 cents a share. Users of those third-party applications were able to send authenticated messages via SMS through Twitter's systems, but that didn't relate to activity on the Twitter platform, according to the company's explanation. Earlier this month, women boycotted Twitter in support of celebrities like Rose McGowan who were trolled on the platform. The site also prohibited photos of non-consensual nudity, and said it would take a harder line on hate symbols and organizations that promote violence.

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