Dick Costolo On Twitter's 'Unpleasant Experience'

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Shares of Twitter Inc TWTR fell for a second straight day on Wednesday, down more than 6 percent after closing down more than 18 percent in the red on Tuesday following the online leak of quarterly results.

Dick Costolo, Twitter CEO, was on CNBC on Wednesday to discuss the company’s quarterly results and the areas where it needs to improve.

Not A Pleasant Experience

“With the combination of the third party who manages our IR site leaking the results before market close, as you are getting ready to go into an earnings call, that wasn’t a particularly pleasant experience, Costolo said.

He continued, “But look, we had a slight miss on revenue. Anthony and I talked about that on the call. We have got a great revenue engine. It was due to our direct response business, those products are new, they are less than a year old. We know what we need to do there and I think we’ll see improvements.

Related Link: Why Dick Costolo Is 'In Trouble' After Twitter Leak, Earnings Miss

Direct Response

Costolo was asked what he needs to do with direct response businesses to see improvements. He replied, “Look, it was a combination of as we mentioned again on the call measurement, accretive and targeting around our DR products. They need to just get better for direct response advertisers. We have got the biggest brand of advertisers in the world.”

“We are ramping spend from them quite well, quite nicely across the world. We just need to keep grinding away on our DR products and we’ll get there,” Costolo concluded.

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Posted In: CNBCMediaDick Costolo
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