Reuters news

Alibaba set for ‘big challenge’ as flamboyant chairman Ma departs

SHANGHAI (Reuters) - Alibaba Group chairman Jack Ma will step down from the Chinese firm on Tuesday, leaving his handpicked successor a daunting task of steering the $460 billion juggernaut at a time when the market for its core e-commerce business has slowed sharply. As
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Reuters news

Libra cryptocurrency must meet tough regulatory standards-U.S. Treasury

BERN (Reuters) - The Facebook-led Libra cryptocurrency project must meet the highest standards for combating money laundering and terrorism financing, a senior U.S. Treasury official said on Tuesday. Any cryptocurrency project, including Geneva-based Libra, operating in all or substantial parts of the United States will
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Reuters news

Twitter beats on revenue, sees rise in daily users viewing ads

(Reuters) – Twitter Inc (TWTR.N) posted better-than-expected second-quarter revenue on Friday and an uptick in daily users who see advertisements on the site, driven by changes to show users more relevant content, sending its shares up nearly 5%.

However, the company forecast third-quarter revenue below many Wall Street estimates and said revenue growth would lag the first two quarters, partly due to ending some older ad formats.

Twitter’s revenue and number of users have been in focus since the social media platform started deleting millions of spam or fake accounts promoting hate speech or spreading political misinformation, contributing to declines in monthly users through 2018.

Chief Executive Officer Jack Dorsey said the platform saw an 18% drop in reports of spammy or suspicious behavior.

The company reported a rise in monthly active users in the first quarter, fueling speculation that Twitter was returning to growth, but has since stopped disclosing its MAU count.

Instead, this quarter it reported monetizable daily active usage (mDAU), a metric it created to measure only users exposed on a daily basis to advertising on the site and exclude those who access Twitter via aggregating sites like TweetDeck…

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