by Jack Crowe, National Review
Twitter shares plummeted during Friday trading following release of the first quarterly earnings report since the company purged millions of fraudulent accounts from its platform.
After gaining roughly 80 percent on the year — and despite the company’s having posted a profit of $134 million this quarter, its third consecutive quarter in the black — Twitter stock fell by roughly 21 percent Friday. The decline appeared to be due to investor concerns about the social-media platform’s stagnating user growth. Twitter’s user count fell by 1 million to 355 million this quarter. The company reportedly began purging roughly 1 million accounts daily in an effort to facilitate conversational “health” on its platform.
Twitter’s efforts to combat hateful speech and misinformation prompted criticism this week after a Vice News report revealed that the accounts of prominent conservatives, such as RNC chair Ronna McDaniel and a number of Republican lawmakers, were not auto-populating in users’ search windows.
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