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Twitter posts record $100M profit but loses 1M users

July 27, 2018 / Jon Russell

The social media apocalypse is on us this week. Days after Facebook’s stock took a record $123 billion plunges a poor earnings report, Twitter’s shares are down nearly 20 percent after the company announced falling users numbers. The microblogging service recorded a drop of one million monthly users in Q2, with 335 million overall and 68 million in the U.S. International users stayed consistent, with U.S. numbers down from 69 million in the previous quarter. Bloomberg reported that Twitter’s share price sunk by 17 percent in early trading following the earnings announcement. The market seems spooked that Twitter has failed to grow in the U.S. Indeed, one year ago it recorded 68 million users on home turf, and while it has grown its international presence by a fairly modest 3.5 percent over that period, there are doubts as to whether Twitter can increase its audience. The company itself said it expects to see its monthly active user count drop by “mid-single-digi...