Following the company's first-quarter earnings, Twitter CEO Dick Costolo promised to increase user engagement, making changes to the login process on mobile, making photos more prevalent and changing the look of people's profiles. Twitter has offered a look that's more similar to Facebook than the previous version of Twitter.
"We think of Twitter as this companion experience for what's happening in your world," Costolo said on the company's earnings conference call. He added that Twitter is already a mainstream platform, with users beginning to realize the value of the platform. It appears Twitter has done that, as it now shows World Cup scores on its home page, as well as various customizations pertaining to the World Cup.
In May, sentiment for Twitter had gotten extremely low, with the Relative Strength Index (RSI) on Twitter near 20, a level indicating the asset is sharply oversold and is due for an upturn. Currently, the RSI is approaching 70, a level that indicates the stock is overbought, and may be due for a pull back.
Despite the sharp run since the middle of May, Twitter still has several things going for it. The company, unlike other nascent technology companies, is profitable on a non-GAAP basis, having posted break-even results for the first quarter, on revenue of $250.49 million, beating analysts' estimates of a loss of 3 cents a share and $241.47 million in sales.
This morning, Twitter also announced a new CFO, Anthony Noto, the former Goldman Sachs investment banker who helped take the company public. Noto will receive an annual salary rate of $250,000, and will receive a one-time stock award in the form of Restricted Stock Units for 1.5 million shares of Twitter, vesting over four years. He'll also receive a one-time option grant to buy 500,000 shares of Twitter common stock on the date of grant, vesting over 4 years.
Noto replaces Mike Gupta, who will become Senior Vice President, Strategic Investments within the next 30 days.
Outside of boosting App Install ads, the company appears to be expanding into new businesses such as e-commerce, including a recent deal with Amazon (AMZN), as well as recent images cropping up of "Buy Now" buttons being placed on tweets. Twitter also just confirmed it acquired New York-based mobile ad startup TapCommerce, for a reported $100 million.
Twitter could not be immediately reached for comment for this story.
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