Twitter’s stock plunged by more than 12% on Friday after it showed no growth in number of users in its second quarterly report released on Thursday. It now has 32.8 crore monthly active users, no improvement from the figure it reported in the first quarter of 2017.

However, Chief Executive Officer Jack Dorsey said monthly active usage had risen 5% year on year, and daily active usage had improved 12%.

Twitter earned $574 million (around Rs 3,682 crore) in Q2 revenue, a 5% year-on-year drop, and net income of $56 million (approximately Rs 359.20 crore), or eight cents per share. Despite posting higher revenue, analysts tend to judge the company’s growth on the basis of the number of users it adds every quarter.