Service from last quarter. Also in focus any update on twitters ceo search and of course guidance on upcoming quarters when the Company Expects its product overhaul and when it expects that to help start adding user at a faster rate. Back over to you. Thanks so much Julia Boorstin. Whats our reaction to twitter . Its this whole mausms user growth quality which is really in question right now. To use your term its interpret meh. We could see the stock unchanged. Rallied 5 . Sentiment was poor. I dont think expectations were particularly high. But those two numbers right there, thats the problem here. That audience isnt growing and until it starts seeing some real growth there advertisers just theres other places to go with much bigger audiences. Listen, im long the stock. Im sticking with it. I think theres a certain scarcity value about the product here. But a lot of things have to go right over the next few months especially in a market environment where internet stocks, and this is a
Deidre markets closed up after a fiveday losing streak. Twitter, moving postmarket. Lori rothman, with me now, she has more from the new york stock exchange, lori . Twitter is headline, deirdre. Revenue grew 61 on solid ad sales. Get this 80 of those users are using twitter on their mobile devices. 6 rise in cost per ad engagement. That is great sign for twitter that their ad strategy is getting traction. You see twitter shares off the postsession highs. Positive reaction to Second Quarter numbers especially going back to the First Quarter, which was not only surprise since they came out at 3 00 during the trading day in the First Quarter but a disappointment too. Lets step back to look at broader market. Our session, finally stocks snapping a fivesession losing streak with the dow closing up 189 points to 17,630. Still negative for the year. Well hear from janet yellen and decision on rates and accompanying statement tomorrow. Nasdaq up 49 points. Lets break down the dow 30 for you. L
We are live from bloombergs European Headquarters in london. Coming up this hour, autos. Peugeots first half earnings surge. We are speaking to the cfo live from paris in about 10 minutes time. Make sure you stay tuned for that. First up, barclays german john mack farland says hes going to step up the pace of cuts to the british lender. The Bank Reported secondquarter profits of 1. 8 5 billion pounds. That matched analyst estimates. Profits at the Investment Bank jumped 35 . For more, we are joined by our london finance reporter, julie of her lane. Julia these results sound like mcfarlane is ready to take the bank by the scruff of the neck. Julia he is going to run down the noncore by 2017 to bring down riskweighted assets. I think he is there to accelerate the whole process that jenkins started. You had equities down 2 and Investment Banking fees down 11 . It has been offset by the macro performance. Manus in terms of these job cuts, where do we think they are going to come from . Wil
Meeting. Policy announcement coming up at 2 00. In global news chinese stocks rallying overnight. This morning snapping the threeday losing streak. The shanghai composite closing up 3. 5 . Big growth. In europe greeces stock market will not be reopened today as some had expected. The exchange is waiting for an okay from the ecb and government decree. Thats 6 or 700 points. Huge. Stocks to watch this morning, twitter earnings and revenue are both above estimates but it was the Monthly Average user number and it grew at its slowest pace since it was public and that is accounting for a pretty substantial selloff today. 32. I dont know the last time it was there. Jack dorsey this weird beard, calls this unacceptable. Have you seen the beard hes sporting . I have. Its like does the not pass by mirrors . People dont talk. He has a lot of yes people. Yeah it looks good. Yeah, it looks good. I like that egg yolk. Right here. More of his comments and reaction from analysts in just a few minutes
Twitter. Shares down 11 premarket after showing the worst growth rate ever. I spoke the outgoing Procter Gamble ceo yesterday. That coming up. Some disappointing guidance but first up twitter taking a hit despite beating expectations revenue up 61 in the user growth quarter. Interim ceo dorsey last night expressing his dissatisfaction during the Conference Call. Instant time lines and logged out experiences have not yet had meaningful impact on growing our participation. This is unacceptable and were not happy about it. We need to do three things. One, we need to ensure a more disciplined execution. Two, we need to simplify our service to deliver twitters value faster and three, we need to better communicate our value. Stock closed at 5 . Ended up down 11 after hours. The quote of the day, we do not expect to see sustained meaningful growth until we reach the mass market and we expect it to take a period of time. Thats what i spoke to the cfo about before we came on. And i put that to