Twitter Shares Sink as User Growth Slows


According to data released on Thursday, Twitter’s 3rd quarter earnings beat analyst expectations, on both top and bottom lines, yet user growth slowed significantly. The earnings report arrived just one day after Jack Dorsey, the company’s CEO, testified in front of  the Senate Commerce Committee.

Here are the key numbers:

  • Earnings per share: 19 cents, adjusted vs. 6 cents expected, according to a Refinitiv survey of analysts
  • Revenue: $936 million vs. $777 million expected, according to Refinitiv
  • Monetizable daily active users (mDAUs): 187 million vs. 195 million expected, according to FactSet

Ad revenue grew  15 percent YoY, to $808 mil., and ad engagement grew 27 percent.

Jack Dorsey on Wednesday attended a Senate hearing where he was grilled by Republican senators Ted Cruz and Rick Scott, who pressed him on the New York Post censorship issue.

In case you’re not up to date with the news, Twitter censored  an article published by the NY Post, which accused the Biden family of corruption, pay for play issues during Joe Biden’s VP run and so on and so forth. Twitter also locked New York Post’s Twitter account for “spreading disinformation” or something along these lines.

During the Senate hearing, Jack Dorsey literally admitted to censorship mobs on Twitter and it appears he doesn’t actually has control over what’s happening on the social media platform.

Also, Dorsey denied that Twitter has the power to influence elections, which is rather strange considering the fact that the POTUS has a Twitter account with millions of followers, and Twitter made headlines recently about censoring/shadow-banning users left and right.

Unfortunately, this whole interviewing process does absolutely nothing, i.e. it’s “just for show”, and it’s meant to make it appear like the government is doing something to regulate Big Tech. In actual fact, Big Tech has a free hand and “self regulates”, which means nothing will happen until the government forces them to comply.

The entire concept of censoring fake news posted by “hackers” or “Russian bots” is very dangerous, as it creates a situation where unaccounted persons/companies play the role of “the ministry of truth”. Trying to shied people from “fake news” and disinfo is the perfect recipe for creating a completely controlled society.



Chris Black
Chris Black
"Journalism is printing what someone else does not want printed: everything else is public relations."