Twitter Inc (TWTR.N) shares opened more than 10 percent lower on Thursday after the social media platform disappointed investors with stagnant monthly active user growth in the second quarter.
Despite its appeal among celebrities and public figures, Twitter has struggled to sustain its closely watched user growth even as it invests in features and live content to help draw viewers and boost user engagement.
It is in stiff competition for advertising dollars with other platforms like larger rival Facebook Inc (FB.O) and Snap Inc’s (SNAP.N) messaging app Snapchat.
The company also reported a wider quarterly net loss and lower revenue, and said it did not expect its total revenue growth to pick up in the second half of the year.
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