Zuckerberg and Dorsey Are Feeling the Earnings Week Woes

Another earnings week came and went and while earnings bumped up some CEOs’ net worth, other CEOs were not so lucky.
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Another earnings week came and went and while earnings bumped up some CEOs’ net worth, other CEOs were not so lucky. On Tuesday the 29th Twitter (TWTR) reported earnings that were above estimates. However, once Jack Dorsey started the earnings call, the stock plummeted. Dorsey, in his first ever earnings call since becoming the interim CEO of Twitter essentially said that Twitter had some user growth problems that would take a while to figure out. On Monday’s open Twitter shares were trading at $35.11. By Friday’s close they were trading at $31.00. Owning 3% of the company’s stock, Dorsey lost around $89 million dollars on his twitter shares. Facebook’s (FB) Mark Zuckerberg was also down this week after Facebook reported earnings that beat estimates but showed an 82% increase in spending. But while Twitter is suffering from a growth slowdown lately, Zuckerberg’s social media giant matched estimates for monthly active user growth. While Twitter was only able to grow their user base by 2 million users, excluding the 6 million SMS-only Twitter users, Facebook was able to increase their user base by 50 million users. Facebook also showed strong numbers for the mobile advertising division. From Monday’s open at $96.58 to Friday’s close at $94.01 Zuckerberg lost $10 million on his 4 million Facebook shares. While these weekly losses may seem like huge drops, viewers have to keep in mind that these are based off of the CEO’s stock holdings in the company and are not realized losses.