With a major revival for microblogging site Twitter still yet to emerge, CNBC has reported sources claiming that CEO Jack Dorsey only has “a few more quarters” in which to execute his turnaround plan.
These sources spoke to CNBC’s Julia Boorstin, who reported their revelations on air yesterday. Twitter shares fell by over 4.5% in Thursday’s first hour of trading. With revenue remaining tight, Twitter’s board is reportedly mulling over several different options for trimming costs.
These options include further layoffs or even selling the key initiatives MoPub, the mobile ad network, or Fabric, the mobile development platform. However, according to sources, Dorsey’s leadership won’t be questioned at the meeting of Twitter’s board taking place today.
With Dorsey’s current period as Twitter CEO having so far lasted less than a year, he is expected to get “a few more quarters” in which to put in place his strategy for reversing Twitter’s decline, say sources.
Nonetheless, a likely point of discussion at the board meeting is whether Twitter should end its days as an independent company. While no companies are currently bidding for Twitter, potential suitors cited by CNBC include Google, Microsoft and Amazon. Could even Apple be in with a shot?
