For the latest quarter, analysts are predicting the microblogging site to report earnings of 5 cents a share on revenue of $559.4 million.
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USA Today has reported Dorsey is really giving one-third of his Twitter stock to the firm’s employees.
While papa Dorsey guides Square, toward an IPO, he’s been busy laying off 8% of his Twitter’s workforce, cutting 336 jobs, 240 of them at Twitter’s San Francisco headquarters. It is important to state that the shares of Twitter have declined by more than 40 percent in the past six months but are showing signs of a bullish reversal since Dorsey took over as CEO.
Twitter is now focusing on the release of its new product launch for Moments.
I’d rather have a smaller part of something big than a bigger part of something small, Dorsey tweeted about surrendering a few of his stock.
Twitter co-founder and chief Jack Dorsey on Thursday said that he is giving a third of his shares to company employees.
Analysts have regarded the company’s decision to bring back Dorsey as Twitter’s CEO as a positive move.
Twitter shares closed in New York trading at $29.16, giving the one-to-many messaging service a market value of $19.82 billion, according to Google Finance.
The company, which has not yet turned a profit, has struggled to expand its user base, lagging rival networks such as Instagram and well behind the much larger Facebook.
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Dorsey was Twitter’s original CEO, but was ousted because the company’s board didn’t think he was the right leader at that time. While he tries to re-tool Twitter, Dorsey is also serving as CEO of Square, a payment processor that is preparing to price an initial public offering of its stock. He says he’s confident he and his employees can make Twitter big.
