With revenues of US$909 million, the social media company beat the consensus analyst expectation of US$859.5 million. However, its user growth slid from 330 million to 321 million monthly active users, after it introduced new initiatives prioritizing user well-being over engagement. The company’s stock dropped 9.84 per cent in late-afternoon trading. (TechCrunch)

Talking point: Although the company’s stock has generally improved over the past two years, this is the latest bad quarter for the company, which also reported declines in MAU estimates in the past two quarters.. Part of the problem is increasing operating expenses from new efforts in health, conversation, revenue product and sales and platform. Twitter is an outlier among the social media giants—Facebook and Google parent Alphabet reported strong earnings last week, prompting both companies’ stocks to rise. However, Twitter seems to think it has a way out. On Thursday, the company announced it will be switching to a new metric system, focusing on monetizable daily active users. That’s a more precise metric for the platform, because accounts that are active daily are less likely to be dormant bots.