After announcing less-than-expected third quarter 2014 results, the shares of Twitter Inc (NYSE:TWTR) have lost more than 13% of their share value. Amid its losing streak, two more key engineers of the company have announced their departure from the micro-blogging site citing an unclear vision responsible for dropping out.
Twitter announced its third quarter results earlier this week with a 7% drop in its user engagement during the quarter and 181 billion timelines views against 183 billion expected figures. The two key individuals to leave the company include VP of Engineering, Jeremy Gordon, and head of the Analytics group, Adam Kinney, of the company.
There have been reports that some of the engineers do not have a clear vision of the product and the future growth of the company. Gordon has been a crucial figure in the product development process of the company and has worked for over two years in the organization. On the other hand, Kinney has worked for over four years with the company and has been a crucial contributor too.
These reports despite of the CEO’s, Dick Costolo, statement of a unified company with a clear vision and team goal are indicator of deeper political issues within the company.
With a slowing user growth rate of Twitter Inc (NYSE:TWTR), these internal conflicts are likely to worsen the problem. In spite of its 23% growth in monthly active users on YoY basis, the company couldn’t match the market expectations. At the same time, the micro-blogging platform reported less than expected guidance for the next quarter to stand between $400 million to $450 million against market expectations of $448 million.
Earlier, Twitter Inc (NYSE:TWTR) announced new partnership with International Business Machines Corp. (NYSE:IBM) to offer cloud services featuring market trends and customer sentiments based upon data from Tweets.
This article has been written by Prakash Pandey.
Twitter Inc (TWTR) Shares Decline Amid Lower User Engagement In Third Quarter 2014
