A day after Facebook’s shares tanked 19 per cent in two hours, Twitter did an encore with its shares diving in pre-market trade on Friday after it emerged that the number of monthly active users had dropped by 1 mn in its second quarter.
Twitter’s shares plunged by as much as 20 per cent on the NYSE in volatile action more than two hours before the opening bell on Wall Street, before cutting the loss to around 18 per cent.
Twitter had 335 million monthly users in the second quarter, below the 339 million Wall Street was expecting, and down slightly from 336 million in the first quarter. That overshadowed a strong monthly user growth of 3 per cent.