Twitter shares plummeted 19 per cent, the social media company’s biggest fall in more than a year, after its third-quarter report to shareholders reflected lower than expected advertising revenue amid privacy concerns and product issues.
The company’s third-quarter sales increased 8.6 per cent to $823.7m, short of a predicted $876m, which the company attributed to “a number of headwinds,” including a drop in advertising in July and August. Shares dropped to $34.44 following news to shareholders of the company’s disappointing quarter.
Its shareholder letter also cited “bugs” affecting its targeted ad capabilities that “share data with measurement and ad partners”, the company said. Ad engagements increased 23 per cent, but the cost per engagement dropped 12 per cent.
Those “bugs” include the company’s collection of device data from users that it wasn’t supposed to be targeting, then using that data for targeted ads. Twitter’s Chief Financial Officer Ned Segal said that the product’s settings were “not working as expected” for that feature.
1/50 24 October 2019
A fire lorry speeds towards a rampant wildfire near Geyserville, California
AFP/Getty
2/50 23 October 2019
Protesters facing Lebanese army soldiers wave national flags in the area of Jal al-Dib in the northern outskirts of Beirut. A week of unprecedented street protests against the political class showed no signs of abating, despite the army moving to reopen key roads. Protests were sparked on October 17 by a proposed tax on WhatsApp and other messaging apps
AFP/Getty
3/50 22 October 2019
Liberal leader and Canadian Prime Minister Justin Trudeau waves to supporters beside his wife Sophie after the federal election at the Palais des Congres in Montreal. He managed to hold on to power, albeit of a minority government, in one of the most divisive elections in the country’s history
Reuters
4/50 21 October 2019
A convoy of US vehicles is seen after withdrawing from northern Syria, on the outskirts of Dohuk, Iraq
Reuters
5/50 20 October 2019
Japan players go over to thank their fans after South Africa beat them in the quarter-final of the Rugby World Cup. Makazole Mapimpi double ended the hosts’ dreams in Tokyo 3-26. The Springboks will now face Wales in the semi-finals for a place in the final
Reuters
6/50 19 October 2019
Archaeologists remove the cover of an ancient painted coffin discovered at Al-Asasif Necropolis in the Vally of Kings in Luxor, Egypt
Reuters
7/50 18 October 2019
A protester throws a tire on a fire to block the highway north of Beirut, Lebanon. Protesters, mainly civil activists, started demonstrating in the downtown area on 17 October, condemning proposed taxes in the 2020 budget. An unexpected addition to impose a daily fee for using WhatsApp calls caused outrage. However, according to the Telecommunications Minister Mohamed Choucair, the charge will not make it through the government palace after the impact it has made on the streets
EPA
8/50 17 October 2019
Children watch as army tanks are transported on trucks in the outskirts of the town of Akcakale, in Sanliurfa province, southeastern Turkey, at the border of Syria
AP
9/50 16 October 2019
North Korean leader Kim Jong Un riding a white horse amongst the first snow at Mouth Paektu
KCNA VIA KNS/AFP/Getty
10/50 15 October 2019
Protesters create a burning barricade after the Supreme Court in Madrid handed lengthy prison sentences to nine of the detained Catalonian leaders for up to 13 years each
EPA
11/50 14 October 2019
Protestors light their torches during a peaceful rally in central Hong Kong’s business district. The protests that started in June over a now-shelved extradition bill have since snowballed into an anti-China campaign amid anger over what many view as Beijing’s interference in Hong Kong’s autonomy that was granted when the former British colony returned to Chinese rule in 1997
AP
12/50 13 October 2019
Japan players celebrate victory after beating Scotland 28-21 to reach the quarter-finals of the Rugby World Cup for the first ever time. The hosts head coach Jamie Joseph paid tribute to those who lost their lives in Typhoon Hagibis
Getty Images
13/50 12 October 2019
Surging waves generated by typhoon Hagibis hit the seashore in Mihama, Mie Prefecture, Japan. Hagibis is the strongest storm to hit in six decades and battered the country’s main island with torrential rain and violent winds
EPA
14/50 11 October 2019
Firefighters battle the Saddleridge fire in Sylmar, California
AP
15/50 10 October 2019
People run to take cover after mortars fired from Syria, in Akcakale, Turkey. An Associated Press journalist said at least two government buildings were hit by the mortars in Sanliurfa province’s border town of Akcakale and at least two people were wounded
AP
16/50 9 October 2019
Policemen climb over a wall close to the site of a shooting where at least two people were killed at multiple locations in Germany, including near a synagogue in the city of Halle
dpa/AFP/Getty
17/50 8 October 2019
This multi-exposure picture shows USA’s Simone Biles performing on the beam during the women’s team final at the Artistic Gymnastics World Championships in Stuttgart
AFP/Getty
18/50 7 October 2019
Extinction Rebellion activists block an intersection in Melbourne, Australia
Reuters
19/50 6 October 2019
Protesters hold smoke grenades as they gather in central Kiev to demand broader autonomy for separatist territories, part of a plan to end a war with Russian-backed fighters
Getty
20/50 5 October 2019
Anti-government protesters rush to an injured man during a demonstration in Baghdad, Iraq
AP
21/50 4 October 2019
Footage of a hugely rare polka dot zebra has been captured in Kenya. The foal was photographed in the Maasai Mara National Reserve
Abdelrahman Hassanein
22/50 3 October 2019
A devotee dressed as the Hindu deity Maha Kali performs during Navratri festival celebrations in Ajmer in Rajasthan state, India
AFP/Getty
23/50 2 October 2019
A gust of wind lifts the cassock of Pope Francis during the weekly general audience at St.Peter’s square in the Vatican
AFP/Getty
24/50 1 October 2019
Protesters clash with an Iraqi riot police vehicle during a demonstration against state corruption and poor services in Baghdad
AFP/Getty
25/50 30 September 2019
A student protester throws a burning stick at riot police officers during a clash in Jakarta, Indonesia
AP
26/50 29 September 2019
An anti-government protester wearing a mask depicting U.S. President Donald Trump is pushed away by riot police during a demonstration at Causeway Bay district in Hong Kong, China
Reuters
27/50 28 September 2019
A Japan fan smiles before the Japan v Ireland Rugby World Cup match in Shizuoka, Japan
Reuters
28/50 27 September 2019
The Duke of Sussex walks through a minefield in Dirico, Angola, during a visit to see the work of landmine clearance charity the Halo Trust, on day five of the royal tour of Africa
PA
29/50 26 September 2019
A policeman stands on a blocked road in Le Petit-Quevilly as smoke billows from a Lubrizol factory classified SEVESO high-threshold site. Residents of twelve towns including Rouen have been asked to stay at home after a fire broke out according to the prefect of Normandy
AFP/Getty
30/50 25 September 2019
Participants dressed in traditional attire pose for pictures during rehearsals for Garba, a folk dance, in preparations for the upcoming Navratri, a festival during which devotees worship the Hindu goddess Durga, in Ahmedabad, India
Reuters
31/50 24 September 2019
A protester fires at riot police during university students’ protest outside the Indonesian Parliament in Jakarta
Reuters
32/50 23 September 2019
Russia’s Soyuz-FG booster rocket with the Soyuz MS-15 space ship that will carry new crew to the International Space Station (ISS) is transported from its hangar to the launch pad at the Russian leased Baikonur cosmodrome, Kazakhstan. The new Soyuz mission is scheduled on 25 September with Russian cosmonaut Oleg Skripochka, US astronaut Jessica Meir and United Arab Emirates astronaut Hazza Al Mansouri
AP
33/50 22 September 2019
An anti-government protester sets a fire during a rally outside the Mong Kok police station in Hong Kong
Reuters
34/50 21 September 2019
New Zealand players perform the haka before their opening Rugby World Cup match against South Africa in Japan. The All Blacks secured a 23-13 victory over their rivals
AFP/Getty
35/50 20 September 2019
Thousands of school students and protesters gather in The Domain ahead of a climate strike rally in Sydney. Millions of people around the world are taking part in protests demanding action on climate issues. The Global Strike For Climate is being held only days ahead of the scheduled United Nations Climate Change Summit in New York
Getty
36/50 19 September 2019
A pedestrian walks by an advertising installation for the Japan 2019 Rugby World Cup in Oita, on the eve of the start of the tournament
AFP/Getty
37/50 18 September 2019
Two flamingos at Dresden Zoo in Germany
EPA
38/50 17 September 2019
Strong wind and waves roll in at Nordre Strandvej in Denmark
EPA
39/50 16 September 2019
A moto-taxi driver takes two passengers past a burning barricade set up by people protesting fuel shortages in Port-au-Prince, Haiti
AP
40/50 15 September 2019
People paddle on a stand-up board during sunrise in a beach in Larnaca, Cyprus
Reuters
41/50 14 September 2019
Mourners hold portraits of Zimbabwe’s late President Robert Mugabe as they attend a farewell ceremony at the National Sports Stadium in Harare. Mugabe died in Singapore on September 6 at the age of 95. He left Zimbabwe deeply divided over his legacy with his country still struggling with high inflation and shortages of goods after decades of crisis
AFP/Getty
42/50 13 September 2019
Rescue workers on a boat rescue a person stranded inside a flooded tunnel after heavy floods in Pilar de la Horadada, Spain
Reuters
43/50 12 September 2019
Police officers try to control the crowd after members of the public were invited to view Robert Mugabe’s body as it lies in state at the Rufaro stadium in Harare, Zimbabwe
Reuters
44/50 11 September 2019
A US flag hangs from a steel girder, damaged in the September 11, 2001 attacks on the World Trade Center at a memorial in Jersey City. It is the 18th anniversary of the attacks
AP
45/50 10 September 2019
Local actors dressed as ancient warriors re-enact a scene from the 7th century battle of Kerbala during a ceremony marking Ashura in Iraq
Reuters
46/50 9 September 2019
A firefighter assesses the fire spreading across land on Long Gully Road in the town of Drake, Australia. A number of homes have been destroyed by bushfires in New South Wales and Queensland
EPA
47/50 8 September 2019
Damaged homes after hurricane Dorian devastated Elbow Key Island in Hope Town, Bahamas. The hurricane hit the island chain as a category 5 storm and battered them for two days before moving north
Getty
48/50 7 September 2019
An artist performs on Tverskaya street during celebrations marking the 872nd anniversary of the city of Moscow
AFP/Getty
49/50 6 September 2019
Children play football next to a defaced portrait of Former Zimbabwean President Robert Mugabe in Harare on the day he died, aged 95. The former leader was forced to resign in 2017, after a 37-year rule, whose early promise was eroded by economic turmoil, disputed elections and human rights violations, has died
AP
50/50 5 September 2019
Authorities work at the scene of a train crash in Yokohama, south of Tokyo. According to media reports, more than 30 people were injured after a train hit a track at a crossing
EPA
1/50 24 October 2019
A fire lorry speeds towards a rampant wildfire near Geyserville, California
AFP/Getty
2/50 23 October 2019
Protesters facing Lebanese army soldiers wave national flags in the area of Jal al-Dib in the northern outskirts of Beirut. A week of unprecedented street protests against the political class showed no signs of abating, despite the army moving to reopen key roads. Protests were sparked on October 17 by a proposed tax on WhatsApp and other messaging apps
AFP/Getty
3/50 22 October 2019
Liberal leader and Canadian Prime Minister Justin Trudeau waves to supporters beside his wife Sophie after the federal election at the Palais des Congres in Montreal. He managed to hold on to power, albeit of a minority government, in one of the most divisive elections in the country’s history
Reuters
4/50 21 October 2019
A convoy of US vehicles is seen after withdrawing from northern Syria, on the outskirts of Dohuk, Iraq
Reuters
5/50 20 October 2019
Japan players go over to thank their fans after South Africa beat them in the quarter-final of the Rugby World Cup. Makazole Mapimpi double ended the hosts’ dreams in Tokyo 3-26. The Springboks will now face Wales in the semi-finals for a place in the final
Reuters
6/50 19 October 2019
Archaeologists remove the cover of an ancient painted coffin discovered at Al-Asasif Necropolis in the Vally of Kings in Luxor, Egypt
Reuters
7/50 18 October 2019
A protester throws a tire on a fire to block the highway north of Beirut, Lebanon. Protesters, mainly civil activists, started demonstrating in the downtown area on 17 October, condemning proposed taxes in the 2020 budget. An unexpected addition to impose a daily fee for using WhatsApp calls caused outrage. However, according to the Telecommunications Minister Mohamed Choucair, the charge will not make it through the government palace after the impact it has made on the streets
EPA
8/50 17 October 2019
Children watch as army tanks are transported on trucks in the outskirts of the town of Akcakale, in Sanliurfa province, southeastern Turkey, at the border of Syria
AP
9/50 16 October 2019
North Korean leader Kim Jong Un riding a white horse amongst the first snow at Mouth Paektu
KCNA VIA KNS/AFP/Getty
10/50 15 October 2019
Protesters create a burning barricade after the Supreme Court in Madrid handed lengthy prison sentences to nine of the detained Catalonian leaders for up to 13 years each
EPA
11/50 14 October 2019
Protestors light their torches during a peaceful rally in central Hong Kong’s business district. The protests that started in June over a now-shelved extradition bill have since snowballed into an anti-China campaign amid anger over what many view as Beijing’s interference in Hong Kong’s autonomy that was granted when the former British colony returned to Chinese rule in 1997
AP
12/50 13 October 2019
Japan players celebrate victory after beating Scotland 28-21 to reach the quarter-finals of the Rugby World Cup for the first ever time. The hosts head coach Jamie Joseph paid tribute to those who lost their lives in Typhoon Hagibis
Getty Images
13/50 12 October 2019
Surging waves generated by typhoon Hagibis hit the seashore in Mihama, Mie Prefecture, Japan. Hagibis is the strongest storm to hit in six decades and battered the country’s main island with torrential rain and violent winds
EPA
14/50 11 October 2019
Firefighters battle the Saddleridge fire in Sylmar, California
AP
15/50 10 October 2019
People run to take cover after mortars fired from Syria, in Akcakale, Turkey. An Associated Press journalist said at least two government buildings were hit by the mortars in Sanliurfa province’s border town of Akcakale and at least two people were wounded
AP
16/50 9 October 2019
Policemen climb over a wall close to the site of a shooting where at least two people were killed at multiple locations in Germany, including near a synagogue in the city of Halle
dpa/AFP/Getty
17/50 8 October 2019
This multi-exposure picture shows USA’s Simone Biles performing on the beam during the women’s team final at the Artistic Gymnastics World Championships in Stuttgart
AFP/Getty
18/50 7 October 2019
Extinction Rebellion activists block an intersection in Melbourne, Australia
Reuters
19/50 6 October 2019
Protesters hold smoke grenades as they gather in central Kiev to demand broader autonomy for separatist territories, part of a plan to end a war with Russian-backed fighters
Getty
20/50 5 October 2019
Anti-government protesters rush to an injured man during a demonstration in Baghdad, Iraq
AP
21/50 4 October 2019
Footage of a hugely rare polka dot zebra has been captured in Kenya. The foal was photographed in the Maasai Mara National Reserve
Abdelrahman Hassanein
22/50 3 October 2019
A devotee dressed as the Hindu deity Maha Kali performs during Navratri festival celebrations in Ajmer in Rajasthan state, India
AFP/Getty
23/50 2 October 2019
A gust of wind lifts the cassock of Pope Francis during the weekly general audience at St.Peter’s square in the Vatican
AFP/Getty
24/50 1 October 2019
Protesters clash with an Iraqi riot police vehicle during a demonstration against state corruption and poor services in Baghdad
AFP/Getty
25/50 30 September 2019
A student protester throws a burning stick at riot police officers during a clash in Jakarta, Indonesia
AP
26/50 29 September 2019
An anti-government protester wearing a mask depicting U.S. President Donald Trump is pushed away by riot police during a demonstration at Causeway Bay district in Hong Kong, China
Reuters
27/50 28 September 2019
A Japan fan smiles before the Japan v Ireland Rugby World Cup match in Shizuoka, Japan
Reuters
28/50 27 September 2019
The Duke of Sussex walks through a minefield in Dirico, Angola, during a visit to see the work of landmine clearance charity the Halo Trust, on day five of the royal tour of Africa
PA
29/50 26 September 2019
A policeman stands on a blocked road in Le Petit-Quevilly as smoke billows from a Lubrizol factory classified SEVESO high-threshold site. Residents of twelve towns including Rouen have been asked to stay at home after a fire broke out according to the prefect of Normandy
AFP/Getty
30/50 25 September 2019
Participants dressed in traditional attire pose for pictures during rehearsals for Garba, a folk dance, in preparations for the upcoming Navratri, a festival during which devotees worship the Hindu goddess Durga, in Ahmedabad, India
Reuters
31/50 24 September 2019
A protester fires at riot police during university students’ protest outside the Indonesian Parliament in Jakarta
Reuters
32/50 23 September 2019
Russia’s Soyuz-FG booster rocket with the Soyuz MS-15 space ship that will carry new crew to the International Space Station (ISS) is transported from its hangar to the launch pad at the Russian leased Baikonur cosmodrome, Kazakhstan. The new Soyuz mission is scheduled on 25 September with Russian cosmonaut Oleg Skripochka, US astronaut Jessica Meir and United Arab Emirates astronaut Hazza Al Mansouri
AP
33/50 22 September 2019
An anti-government protester sets a fire during a rally outside the Mong Kok police station in Hong Kong
Reuters
34/50 21 September 2019
New Zealand players perform the haka before their opening Rugby World Cup match against South Africa in Japan. The All Blacks secured a 23-13 victory over their rivals
AFP/Getty
35/50 20 September 2019
Thousands of school students and protesters gather in The Domain ahead of a climate strike rally in Sydney. Millions of people around the world are taking part in protests demanding action on climate issues. The Global Strike For Climate is being held only days ahead of the scheduled United Nations Climate Change Summit in New York
Getty
36/50 19 September 2019
A pedestrian walks by an advertising installation for the Japan 2019 Rugby World Cup in Oita, on the eve of the start of the tournament
AFP/Getty
37/50 18 September 2019
Two flamingos at Dresden Zoo in Germany
EPA
38/50 17 September 2019
Strong wind and waves roll in at Nordre Strandvej in Denmark
EPA
39/50 16 September 2019
A moto-taxi driver takes two passengers past a burning barricade set up by people protesting fuel shortages in Port-au-Prince, Haiti
AP
40/50 15 September 2019
People paddle on a stand-up board during sunrise in a beach in Larnaca, Cyprus
Reuters
41/50 14 September 2019
Mourners hold portraits of Zimbabwe’s late President Robert Mugabe as they attend a farewell ceremony at the National Sports Stadium in Harare. Mugabe died in Singapore on September 6 at the age of 95. He left Zimbabwe deeply divided over his legacy with his country still struggling with high inflation and shortages of goods after decades of crisis
AFP/Getty
42/50 13 September 2019
Rescue workers on a boat rescue a person stranded inside a flooded tunnel after heavy floods in Pilar de la Horadada, Spain
Reuters
43/50 12 September 2019
Police officers try to control the crowd after members of the public were invited to view Robert Mugabe’s body as it lies in state at the Rufaro stadium in Harare, Zimbabwe
Reuters
44/50 11 September 2019
A US flag hangs from a steel girder, damaged in the September 11, 2001 attacks on the World Trade Center at a memorial in Jersey City. It is the 18th anniversary of the attacks
AP
45/50 10 September 2019
Local actors dressed as ancient warriors re-enact a scene from the 7th century battle of Kerbala during a ceremony marking Ashura in Iraq
Reuters
46/50 9 September 2019
A firefighter assesses the fire spreading across land on Long Gully Road in the town of Drake, Australia. A number of homes have been destroyed by bushfires in New South Wales and Queensland
EPA
47/50 8 September 2019
Damaged homes after hurricane Dorian devastated Elbow Key Island in Hope Town, Bahamas. The hurricane hit the island chain as a category 5 storm and battered them for two days before moving north
Getty
48/50 7 September 2019
An artist performs on Tverskaya street during celebrations marking the 872nd anniversary of the city of Moscow
AFP/Getty
49/50 6 September 2019
Children play football next to a defaced portrait of Former Zimbabwean President Robert Mugabe in Harare on the day he died, aged 95. The former leader was forced to resign in 2017, after a 37-year rule, whose early promise was eroded by economic turmoil, disputed elections and human rights violations, has died
AP
50/50 5 September 2019
Authorities work at the scene of a train crash in Yokohama, south of Tokyo. According to media reports, more than 30 people were injured after a train hit a track at a crossing
EPA
The company stopped collecting that user information in August and shut down the feature entirely, which the company believes hurt its overall ad picture.
User data also was still being collected even after they believe they had opted out of a feature that asked them if Twitter could use device-specific settings to personalise their timeline.
Addressing third-quarter results on CNBC, Mr Segal said the company feels “really good about the progress” it’s making but intends to hold itself accountable for user privacy issues and other product concerns.
The company said it added 6 million new daily active users in the third quarter, up to 145 million, marking a 17 per cent increase from the previous year and a 4 per cent jump from the second quarter.
Among Twitter’s recent product updates include an ability for users to follow topics, not just individual accounts, an experiment it will continue into 2020 in an effort to retain its millions of users and attract new ones while climbing back from revenue shortfalls
