SAN FRANCISCO: After facing an uncertain future over stalled users' growth and declining revenues for some time, shares of the micro-blogging website on Wednesday climbed by more than five per cent after a positive feedback from the advertisers.
According to The Street website, equity research firm Cleveland Research wrote a bullish note, contending that Twitter has successfully improved both its strategy and execution.
Cleveland Research noted that it has received increased "constructive feedback" from advertisers regarding Twitter's strategy and implementation of its live content.
"However, while the it remains positive on Twitter's return on investment, the firm expects it to struggle to grow ad dollars," the report noted.
Last year Salesforce, Google, Apple and Walt Disney were reportedly interested in buying Twitter but later they decided not to bid for the platform as the company's stocks fell significantly.
As of the first quarter of 2017, the microblogging service averaged at 328 million monthly active users (MAUs).
Twitter reported its first ever decline (year-over-year) in revenue growth for its first quarter earnings this year but managed to beat analysts' expectations of $512 million in revenue with $548 million.