Twitter co-founder Jack Dorsey returned to the role of CEO on a permanent basis this month after the company decided he was the man to turn around its anemic user growth. But Citigroup senior Internet analyst Mark May said Wednesday that may not be the case.
"I think that they have a plan. The problem is it might require a pretty meaningful change to the core experience for Twitter, and that may be something that a founder is unwilling to make," he told CNBC's "Squawk on the Street."
Shares of Twitter were hammered on Wednesday after the company beat both profit and revenue expectations in the last financial quarter, but reported it added just 3 million monthly active users during that period.
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The company's first major product since Dorsey took the helm — Moments — has been "a bit of a disappointment," May said. Incubated as Project Lightning, Moments launched this month with the aim of making it easier for new users to browse the biggest stories on Twitter.