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00:00:01
>> Twitter getting another boost to its shares Tuesday after the company's co-founder, Biz Stone, announced he is returning full time to Twitter. The second piece of good news for the company in the past month, including a strong earnings report for its first quarter of 2017. Reuters correspondent David Ingram in San Francisco.
00:00:21
>> Investors might like this for two reasons. One, it's a vote of confidence in the current management of Twitter. Biz Stone was a cofounder with the current CEO, Jack Dorsey. And by going back, he's saying that he has faith in Dorsey continuing to be the CEO of Twitter.
00:00:37
And this is also could have a potential impact on Twitter's ability to retain and recruit strong talent. If the morale within Twitter, if Biz Stone can keep morale high they have a better chance to get some of the strong talent in Silicon Valley.>> In a blog post, Stone saying CEO Jack Dorsey asked him to come back to work for the company.
00:00:57
Dorsey's excitement over the reunion making it onto Twitter. Ingram says the role is unspecified but it will have to do with the company's culture.>> Biz Stone's reputation is that he's a very positive influence within the company. He's worked on some other companies and most recently worked with Pinterest.
00:01:17
And the feeling within Twitter is that he is going to make life even more fun within the walls of headquarters at Twitter. So it's a morale booster for people, a reason for them to stick around, or even go to work at Twitter.>> Twitter needs all the good news it can get as it's had a rough few years on many levels, whether it's user growth, or revenue, or its stock price.
00:01:42
The return of Biz Stone could be a step in the right direction. Shares shot up roughly 2.5% on the news.