Twitter CFO: Edit button “not in our plans”

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Yahoo Finance

Kim Kardashian West may have had “a good convo” with Twitter CEO Jack Dorsey, but it doesn’t look like her request for an edit function for tweets is coming anytime soon.

Kardashian West tweeted about her lobbying of Dorsey at her husband Kanye West’s birthday party earlier this month. As it stands now, once someone has engaged with a tweet, it can’t be edited. It can only be deleted, fixed and reposted.

Don’t expect a change anytime soon. Twitter (TWTR) CFO Ned Segal says an edit function is “not in our plans.”

Segal became CFO of Twitter in August 2017. Since then the stock has more than doubled, outpacing other social media peers. Twitter was also recently added to the S&P 500. “We’ve really made a bunch of great improvements to the service. We’ve had six consecutive quarters of double-digit growth … It helps bring more users and more advertisers.”

Twitter is now profitable as well. On GAAP net income basis, Segal says, “We’ve been profitable for a couple quarters in a row; that was an important milestone. We’ve been generating cash for a long time, but being GAAP net income profitable is an important thing for us to do to demonstrate that we can control our own destiny over long periods of time.”

While Twitter may find itself in the same breath as Facebook (FB), Spotify (SPOT) and other tech names, for Segal, it’s not a zero-sum game for ad dollars. “For us to grow it doesn’t have to come out of someone else’s hide. We feel like there’s so much in our control that if we can get people to come and use the platform and improve our interactions in the dollars with advertisers and demonstrate a compelling use case for them, it doesn’t really matter what’s happening elsewhere.”

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