Twitter plummets 18% pre-market after reporting a decline in monthly active users

Twitter CEO Jack Dorsey.AP Images

Twitter's share price fell as much as 18% in pre-market trading after the company reported a quarter-over-quarter decline in monthly active users.

The company reported its Q2 financials as follows, beating on revenue but with EBITDA in line with estimates:

• Revenue:  $711 million, up 24% year on year
• EBITDA: $265 million, up from  $178 million  last year
• MAU: 335 million, down from 336 million in Q1

Twitter blamed the active user decline on new European privacy rules and its decision not to move to paid SMS carrier relationships, and on its efforts to clean up the platform.

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