Twitter did not add any new users in Q2, a disappointing follow-up to what had been a promising start to 2017.
Twitter reported earnings Thursday morning, claiming 328 million total users — the same number it reported after Q1. Analysts had been hoping the company would add around four million new users last quarter.
Twitter did beat Wall Street’s revenue expectations, bringing in profits of 12 cents a share on revenue of $574 million. Wall Street was looking for just $537 million in revenue.
Twitter’s daily active users also grew by 12 percent over the same time last year, a metric Twitter will likely tout as the company says it represents engagement. But Twitter doesn’t share how many daily active users it actually has, which makes its year-over-year growth tough to appreciate.
The user growth piece was they key. Twitter’s declining revenue has been blamed on the fact that the company had paltry user growth for almost two whole years — revenue was simply catching up.
But after adding a surprising nine million new users last quarter, some hoped that was a sign Twitter’s business growth would eventually follow. Adding zero new users, though, is not what investors were looking for.
Twitter’s stock is down almost 6 percent in pre-market trading. We are reading through the company’s earnings and will update with whatever else we find.
This article originally appeared on Recode.net.