Growth slowing at Twitter? At least we have lurkers, CEO says
Twitter’s numbers may not be as bad as they seem, says Chief Executive Dick Costolo.
Twitter’s user growth might be slowing, but, on the bright side, 500 million people visit the microblogging service each month without logging on, Costolo said Wednesday at the company’s first analyst day in San Francisco. And, he said, 125 million people visit Twitter’s home page each month without signing up, presenting an opportunity to create features to add users, Costolo said.
The company’s stock price jumped $2.95, or 7.4%, on Wednesday to close at $42.54.
The CEO announced plans to roll out an “instant timeline” that lets users see what’s happening on the site without having to first follow people. He also said the company is working on new mobile applications that will simplify the sign-up process.
Costolo made his presentation amid investor concerns about slowing user growth. The day after the company reported that its user base grew 23% to 284 million monthly active users in the third quarter, compared with 24% growth the previous quarter, Twitter shares tumbled 9.8% to $43.78.
The company went public last November at a price of $26 a share. The stock peaked in December at $74.73.
Despite slowing user growth, the company’s head of global revenue, Adam Bain, said in early November at the Dublin International Web Summit that Twitter feels it’s “just getting started” and is aware it has “this massive untapped audience out there.”
Twitter: @traceylien
