TWTR,...Twitter now down 7.1%; Noto offers cautious remarks on user growth
"Simply put, the product remains too difficult to use," says CFO Anthony Noto on Twitter's earnings call, echoing a frequent complaint. He adds sustained user growth shouldn't be expected until Twitter can (in his view) reach the mass market, and that this will take a "considerable" amount of time. (live blog)
Also: 1) Noto states direct response ad formats such as app install ads (a culprit behind the soft guidance Twitter provided in April) make up 25% of ad revenue. 2) Jack Dorsey says Twitter has no update regarding its CEO search. 3) While global MAUs rose by 8M Q/Q to 316M, U.S. MAUs were flat at 66M. The U.S. still accounted for 64% of revenue in Q2. 4) Much time was spent discussing Project Lightning (due this fall), which will let users follow streams centered around specific events.
Up initially following its Q2 beat and strong full-year sales guidance, Twitter has now fallen to $33.96 AH.
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