Twitter CFO, as shares plunge, tells investors the company remains on the right course

"We feel really good about the progress me made, yet we still feel accountable for the issues that came up and we intend to address them," Segal said shortly after the company announced disappointing"The work we're doing on our consumer product, these are the right places for us to be spending our time right now."

Twitter shares opened nearly 18% lower on Wall Street after being down as much as 20% in the premarket. The company blamed "a number of headwinds" for the revenue shortfall, such as product issues and lower-than-expected advertising volumes. In one particular bug, a new user to Twitter was asked whether the platform could use device-specific settings to personalize the user's timeline. The platform collected that data, even when the user responded "no" to the prompt. The company realized the improper use of user data and shut off the feature entirely, limiting its ability to target and sell ads.

The company also saw an issue with reporting user data to advertising partners. Twitter, which allows users to opt out of having their data shared with advertisers, was "passing on data which we had not intended to," Segal said earlier on the earnings call. He formerly was an executive at tax company

nedsegal Im staying long ! Still a top brand that is used worldwide. The best are yet to come. Proud 💼 holder

nedsegal

nedsegal I had you guys modeled at 920-930 in revenue, you guys did an excellent job with the circumstances. The operational leverage you are gaining from AI tools is superb. People don’t understand the story, with user growth new silos will develop and create marketing opportunities.

nedsegal A bug

Why is anyone surprised? There are only so many users, and only so many ways they can try to bilk money out of it. It was never going to sustain a profit. All of them are over-inflated and could be the next MySpace.

MyP_Chicago Down the drain is a course

It took longer than normal. It’s true. Everything Trump touches dies. I shorted $twtr. TheRickWilson

Isn’t Trump a huge AD for Twitter?

banned a lots of accounts...twitter's good..

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