Twitter shares surge as Trump accuses it of 'political games'

Marco Green
April 24, 2019

President Donald Trump on Tuesday met privately with Twitter CEO Jack Dorsey, a huddle at the White House between one of the site's most prolific users and an executive who's faced criticism for the way Twitter has handled the USA president's tweets. These are users who log into the site at least once a day and see advertisements on the platform.

Shortly after the numbers were released, Trump took to Twitter to lambaste the social media company's treatment of him, accusing it of playing "political games".

When we get to the all-important metric of monetizable daily active users (mDAU), that metric was up 11% to 134 million mDAU's year-over-year. He wrote on Twitter that the company does not "treat me well as a Republican. Big complaints from many people", he wrote, referring to the alleged Twitter practice of "shadowbanning" conservative voices, which has drawn ire from establishment Republicans and right-wing commentators and activists alike. Twitter, along with Facebook and Google, has denied the existence of any political bias.

"We are taking an even more proactive approach to reducing abuse on Twitter and its effects in 2019", the company stated in its first-quarter shareholder letter.

Twitter, which has a history of being slow to make changes to its service, has recently increased the pace of new product introductions.

Twitter executives said a small group of people started trying the app out a month ago but did not reveal when it would be launched.

First-quarter adjusted earnings per share came in at 37 cents, jumping ahead of consensus estimates of 15 cents per share and the year-ago quarter's 16 cents per share. Total ad revenue was $679 million, an increase of 18%.

Revenues for the first quarter climbed by 18% to $787m (£605m), beating Wall Street forecasts of $776m.

"Some of you will be very supportive of our meeting [with] the president, and some of you might feel we shouldn't take this meeting at all", the tech entrepreneur reportedly wrote, adding that he believes it is "important to meet heads of state in order to listen, share our principles and our ideas".

For the first quarter of 2019, Twitter's revenue rose 18 percent from a year ago to $787 million (roughly Rs. 5,500 crores), surpassing Wall Street expectations of $776.1 million.

In midday trading, Twitter shares soared almost 16% to $39.83.

Other reports by Click Lancashire

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