Tech

Asked about China, Twitter CFO says company focus is on markets where it is 'accessible'

Key Points
  • Twitter Chief Financial Officer Ned Segal, asked by CNBC about its plans in China, said the company is focused on markets where it is "accessible."
  • The social media platform is blocked in China.
Twitter's new Chief Financial Officer, Ned Segal
John Chiala | CNBC

Twitter Chief Financial Officer Ned Segal, asked by CNBC about its plans in China, said the company is focused on markets where it is "accessible."

The social media platform has been blocked in China.

"Right now we're focused on the markets where Twitter is accessible," Segal told CNBC's "Street Signs" on Tuesday. The company wants to make sure users "can trust the information that they see on the service and that they can be a part of the conversation and feel safe while doing so."

Twitter has 145 million monetizable daily active users, which refers to users who are shown ads on the platform.

Like other social media platforms such as Facebook and YouTube, Twitter has also faced backlash from lawmakers around the world for failing to contain the spread of false information during election campaigns. Since then, those companies have ramped up efforts to tackle disinformation by banning suspect accounts and removing fake content.

Advertising is a big part of Twitter's business and the company has introduced services that drive better relevance, improved ad formats and helped advertisers use video to connect with customers, Segal explained.

"We look to help more advertisers and our existing base of advertisers do a better job launching new products and services and connecting with what's happening," he said.

In its third-quarter earnings last week, the company missed expectations, citing product issues and advertising challenges for the revenue shortfall. Advertising revenue for the quarter was $702 million, up 8% on-year, but noticeably short of the $756 million predicted by analysts in a FactSet survey.

Twitter said its "Mobile Application Promotion" suite of products, which help advertisers promote the download of mobile apps on the platform, was a major problem area — identified bugs affected its ability to target ads and share data with measurement and ad partners.

A second, improved version of the software suite is in the works, according to the company, but it doesn't know when it'll be ready.

Clarification: This story has been updated to clarify Twitter CFO Ned Segal's statement on Twitter's plans in China.