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Marcio Jose Sanchez / AP

Twitter shares took a beating Thursday morning after the company reported it had failed to increase its user growth. The results from its second quarter earnings report:

  • Revenue, missed: $574 million in revenue vs. $536.7 Thomas Reuters estimates
  • Earnings per share, beat: 12 cents per share, beating 17 cents per share Thomas Reuters estimates.
  • Advertising revenue, dropped 8%: $489 million vs. $535 million last year (8% year over year drop
  • Monthly Active Users, missed: 328 million vs. 329 million StreetAccount Reuters estimates

Our thought bubble: If you are on the internet and not growing, you are dying.

Why it matters: Twitter has struggled to woo investors since its IPO in 2013. Wall Street have been wary of its ability to monetize its massive direct-to-consume, mobile audience, something most legacy media and tech companies are striving for. The company has been rolling out sophisticated new live video and static ads units (see this one from Adam Schiff), that have been very effective (total ad engagements increased 95% year-over-year this quarter) but investors still aren't confident that their ad business is scalable, especially when the company's user base has basically plateaued.

What analyst are saying: "You have zero user growth versus Facebook reporting 70 million new users [Wednesday]" Aegis Capital internet analyst Victor Anthony told CNBC. "It's not a recipe for a stock you want to buy."

Go deeper

Felix Salmon, author of Capital
Updated 6 mins ago - Economy & Business

How to meme a painting

Illustration: Megan Robinson/Axios

How can a physical artwork become an NFT? One new company has just spent $12.9 million on a Banksy in an attempt to try out a new way of converting the real into the virtual.

Why it matters: The art market globally sees volume of about $60 billion per year, almost all of which is trade in physical objects. Art-world insiders including former Christie's c0-chair Loïc Gouzer are on the lookout for ways to monetize physical paintings without necessarily giving up physical ownership of them.

Updated 25 mins ago - Politics & Policy

What abortion access would look like if Roe v. Wade is overturned

Expand chart
Data: Axios Research; Cartogram: Sara Wise and Oriana Gonzalez/Axios

Abortion would immediately become illegal in at least 12 states if the Supreme Court were to overturn Roe v. Wade, and more would likely follow suit quickly.

Why it matters: The Mississippi case before the Supreme Court Wednesday could throw Roe's survival into question, or at least narrow its scope.

Updated 28 mins ago - Politics & Policy

Omicron dashboard

Illustration: Aïda Amer/Axios

  1. Health: CDC prepares tougher testing rules for international travelers — U.S. on the lookout for Omicron casesFDA panel backs Merck's antiviral COVID pill.
  2. Politics: Biden says fight against Omicron won't include "shutdowns or lockdowns" — Two federal judges temporarily block Biden vaccine mandates.
  3. Vaccines: Omicron adds urgency to vaccinating world — Omicron fuels the case for COVID boosters — Pentagon denies Oklahoma National Guard request for exemption from vaccine mandate.
  4. World: Omicron variant detected in more countriesWHO advises people 60 or older to postpone travel due to Omicron — COVID-19 "radically altered mobility" globally, UN says.
  5. Variant tracker: Where different strains are spreading.