Twitter Asked Investor to Not Track First-quarter Forecast, Despite the Hike in Usage

Twitter Asked Investor to Not Track First-quarter Forecast

This development is an indicator that the entire pandemic situation of Coronavirus has affected all social media platforms.

The microblogging platform, which is Twitter, have told reporters that they warned investors against the guidance revenues it gave last quarter. The financial flow is said to be suffering due to the COVID-19 outbreak. Even though the spread and people staying indoors have left users with no other choice than to spend more time on social media platforms, fears of the recession have made the company cutting back spends. This has led to retracting their forecast.

In a press statement recently, Jack Dorsey, Twitter CEO said, “Twitter main purpose has always been of serving conversation, which of course is public. We are seeing a lot of increase in the number of people using the platform, and our teams are demonstrating incredible resilience adapting to this unprecedented ecosystem. Twitter continues to navigate the environment which focusses on supporting the employees, customers, and even partners while we are working towards strengthening the service for people around us and coming in terms with adjusting to a completely new operating and economic environment.”

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This is the first indicator that the coronavirus pandemic has hugely affected all social media platforms. According to media reports, Twitter has up to 164 million daily users, which is a 23 percent jump compared to the first quarter of 2019.

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