Nothing says more about a company’s belief in its technology than using it for a crucial earnings report. For its Q2 call, Twitter CEO Jack Dorsey and CFO Anthony Noto used Periscope as the go-to live video medium for the call. At its peak, there were about 4,000 users on Periscope getting details about the company’s latest financials.
Beyond its earnings, Dorsey approached the call with a stern focus that spoke to his disappointment about Twitter’s performance in the areas of brand recognition and a deeper understanding of why people use the micro-blogging service. Dorsey pointed to such areas as “while you were away,” and the need to show more meaningful conversations as places the company’s leadership needs to improve. Project Lightning, a proposed service similar to Snapchat stories, is on track for a late 2015 release.
“We want people to get into the app and understand its value more quickly,” said Dorsey of what he sees as the most pressing need for Twitter.
Speaking to a renewed focus on growing the service, Noto explained how the company’s research called out two areas Twitter must improve to grow the number of users as well as engagement. “They don’t understand the value,” Noto said of respondents to the company’s research into areas of concern, adding, “they don’t know how to use Twitter. We need to make it simpler.”
Noto also addressed the impact of Autoplay Video, which he says is beneficial to advertisers and users with a higher engagement rate than other advertising on Twitter.
When asked about the possibility of connecting Twitter to its two video-related services, Vine and Periscope, Dorsey agreed it was an idea on the drawing board, but lacked any definite timeframe.
The social media company posted second-quarter earnings of 7 cents per share on $502 million in revenue. Analysts expected Twitter to report earnings of 4 cents per share on $481 million in revenue, according to a consensus estimate from Thomson Reuters.