Twitter is tumbling after reporting zero user growth

Twitter is tumbling in pre-market trading, trading down 9.73% at $17.71 a share.

The social media company reported no monthly active user growth in the second quarter, which was one of the main metrics investors were looking for.


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The company missed on user growth, but grew its revenue in the second quarter. Twitter reported revenue of $574 million, which beat Wall Street's estimates of $537 million. Earnings per share also came in higher than expected at $0.12, compared to the $0.05 expected.

This was the eleventh quarter in a row that Twitter has exceeded earnings expectations.

In the first quarter, the company grew its monthly users by 9%, due in part to President Donald Trump's avid use of the platform. The company has had trouble keeping up with rival platforms like Facebook, which recently hit 2 billion users.

Twitter recently went through a redesign of its web and mobile platforms in the second quarter in an attempt to narrow their focus on "live" content.

In a letter to shareholders accompanying earnings, Twitter said it was able to improve engagement thanks to timeline and notifications improvements. The letter attributes the stagnant user growth to "lower seasonal benefits and other factors."

Twitter is up 8.09% this year.

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Jack Dorsey, Twitter CEO
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Jack Dorsey, Twitter CEO
Jack Dorsey, interim chief executive officer and co-founder of Twitter Inc., left, talks with Venture capitalist Aviv 'Vivi' Nevo while arriving for a morning session during the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Thursday, July 9, 2015. Billionaires, chief executive officers, and leaders from the technology, media, and finance industries gather this week at the Idaho mountain resort conference hosted by investment banking firm Allen & Co. Photographer: David Paul Morris/Bloomberg via Getty Images
SQUAWK ON THE STREET -- Pictured: Dick Costolo and Jack Dorsey in an interview at CNBC's San Francicso bureau, on June 12, 2015 -- (Photo by: John Chiala/CNBC/NBCU Photo Bank via Getty Images)
Jack Dorsey, CEO of Square, Chairman of Twitter and a founder of both ,holds an event in London on November 20, 2014, where he announced the launch of Square Register mobile application. The app, which is available on Apple and Android devises, will allow merchants to track sales, inventories and other data on smartphones and tablets. AFP PHOTO / JUSTIN TALLIS (Photo credit should read JUSTIN TALLIS/AFP/Getty Images)
Jack Dorsey, co-founder of Twitter Inc. and founder and chief executive officer of Square Inc., right, and Suzanne McKechnie Klahr, founder and chief executive officer of BUILD, stand for a photograph during the 2014 BUILD Gala in San Francisco, California, U.S., on Saturday, March 1, 2014. BUILD is an innovative, college preparatory program, whose mission is to use entrepreneurship to direct low-income high school students to college and careers. Photographer: David Paul Morris/Bloomberg via Getty Images
DETROIT, MI - Twitter Chairman and Square CEO Jack Dorsey moderates a panel discussion with Detroit entrepreneurs at Techonomy Detroit at Wayne State University September 17, 2013 in Detroit, Michigan. The topic of the discussion was 'Turbocharging Detroit's Teconomy.' (Photo by Bill Pugliano/Getty Images)
SAN FRANCISCO, CA - AUGUST 19: Square CEO Jack Dorsey (R) demonstrates the Square payment system for House Ways and Means Committee Chairman Dave Camp (R-MI) while touring the Square headquarters on August 19, 2013 in San Francisco, California. Senators Max Baucus (D-MT) and Dave Camp (R-MI) continued their Tax Reform Tour with a visit to the headquarters of mobile payment company Square. The tour is taking the two senators across the nation to speak to American people about how to fix the nation's broken tax code to benefit families and job creators. (Photo by Justin Sullivan/Getty Images)
Jack Dorsey, co-founder and chairman of Twitter Inc. and co-founder and chief executive officer of Square Inc., stands for a photo following an interview at Just Baked Cupcakes in Detroit, Michigan, U.S., on Tuesday, Sept. 17, 2013. Twitter Inc., which announced plans last week for an initial public offering, is still deciding whether to list on the New York Stock Exchange or Nasdaq Stock Market, setting off a horse race for the high-profile deal. Photographer: Jeff Kowalsky/Bloomberg via Getty Images
Jack Dorsey, chairman and co-founder of Twitter Inc., center, speaks as New York City Mayor Michael 'Mike' Bloomberg, right, and San Francisco Mayor Edward 'Ed' Lee listen during a press conference in San Francisco, California, U.S., on Friday, June 14, 2013. Dorsey, Mayor Bloomberg and Mayor Lee announced today that they will co-host the second annual Bloomberg Technology Summit to be held in New York on September 30. Photographer: David Paul Morris/Bloomberg via Getty Images
Jack Dorsey, chairman and co-founder of Twitter Inc., speaks during a Bloomberg West Television interview in San Francisco, California, U.S., on Friday, May 17, 2013. Twitter is expanding into smartphones and other wireless products, seeking to boost the number of users and advertisers. Photographer: David Paul Morris/Bloomberg via Getty Images
NEW YORK, NY - APRIL 23: Creator of Twitter Jack Dorsey (R) attends the 2013 Time 100 Gala at Frederick P. Rose Hall, Jazz at Lincoln Center on April 23, 2013 in New York City. (Photo by Jennifer Graylock/Getty Images)
Jack Dorsey, Chairman of Twitter and CEO of Square speaks at a conference of the New Economy Summit 2013 in Tokyo on April 16, 2013. Entrepreneurs of information technology (IT) and online business on April 16 gathered at a one-day conference, hosted by Japan Association of New Economy (JANE), led by Japanese electronic commerce giant Rakuten's Hiroshi Mikitani. AFP PHOTO / Yoshikazu TSUNO (Photo credit should read YOSHIKAZU TSUNO/AFP/Getty Images)
Jack Dorsey, co-founder and chairman of Twitter Inc. and founder and chief executive officer of Square Inc., pauses while he speaks to the media at the Massachusetts Institute of Technology (MIT) in Cambridge, Massachusetts, U.S., on Monday, Sept. 24, 2012. Square Inc., the mobile payment startup founded by Dorsey, is giving small merchants more flexibility in how they pay for credit-card transactions, increasing competition with PayPalâs rival card reader. Photographer: Scott Eisen/Bloomberg via Getty Images
DETROIT, MI - SEPTEMBER 12: Jack Dorsey, Chairman of Twitter and CEO of Square, speaks with the media after speaking at TECHONOMYDETROIT September 12, 2012 in Detroit, Michigan. The event, hosted by the Detroit Economic Club, is a one-day multidisciplinary gathering of national and local leaders about reigniting U.S. competitiveness, creating jobs, and revitalizing our cities in a technologized age. (photo by Bill Pugliano/Getty Images)

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