Figure Out the Money, Twitter
Twitter Struggles to Capitalize on Influence and Posts Lackluster Earnings:
Sports fans were glued to it during the Super Bowl. Millions used it to track American election night results. In the morning, the president of the United States sends a daily missive in the form of a tweetstorm.
“You don’t go a day without hearing about Twitter,” Jack Dorsey, the company’s chief executive, said on a conference call with investors Thursday morning.
There is just one problem: For all of its influence, Twitter cannot seem to capitalize on its wide reach.
The company reported disappointing earnings on Thursday, with sales totaling $717 million in the fourth quarter, up only about 1 percent compared with a year ago. That fell far short of analysts’ expectations of $740 million. Twitter lost roughly $167 million over that period, or 23 cents per share, from a loss of about $90 million in the quarter last year.
I don’t understand this.
I value Twitter as communications tool. Twitter has been my go-to app to check on breaking news for years now. In the rare times I turn on network news, I’m guaranteed to see them quoting something someone said on Twitter (these days it’s usually something our Shithead in Chief is whining about).
Jimmy Fallon uses it all time in bits on his show and I think he’s the only person still using hashtags. Jimmy Kimmel has also been using it for years in his hilarious Mean Tweets segment.
Twitter is firmly planted in popular culture.
Figure it out, Twitter. Businesses in much worse positions than you have.