Twitter stocks plunge as user growth slows

Twitter stocks plunge as user growth slows

Twitter Publish much stronger than expected 3rd quarter performance Revenue declined due to growing advertiser demand, and the number of daily users was lower than analysts expected.

Click here to start your FOX business on the go

This caused the stock price to plunge 15% in after-hours trading. The stock closed at $52.43, up $3.92 (8.1%).

ticker security Last change % change
TWTR Twitter INC. 52.43 +3.90 + 8.04%

The San Francisco company earned $28.6 million (4 cents per share) during the July-September period. This is a 22% decrease from the previous year, in part due to increased costs associated with COVID-19. Excluding the one-time items, earnings per share were 19 cents.

Revenue grew by 14% from $823.7 million to $936.2 million.

sen. The story of JOHNSON, Twitter CEO DORSEY, and HUNTER BIDEN is proof that it is a reverse information campaign

Twitter had an average of 184 million daily users in the third quarter, but it was lower than the analyst’s estimate of 195.6 million. The company no longer discloses monthly user figures.

“The number of daily viewers increased by 42 million last year as people from all over the world came to Twitter to find out about the topics and events that interest them most. mDAU rose to 188 million, up 29% year over year. ., It was driven by a global conversation about current events and product improvement,” said Jack Dorsey, Twitter CEO.

READ  Petco Stops Selling'Shock' Necklaces

Analysts were expecting a loss of 10 cents per share, an adjusted revenue of 6 cents per share, and a return of $777.3 million, according to FactSet’s poll.

Click here to learn more about FOX BUSINESS.

The company said it had predicted uncertainty in the future due in part to the upcoming US elections, and said it was “hard to predict how advertiser behavior could change.”

The Associated Press contributed to this report.

You May Also Like

About the Author: Max Grant

Devoted web lover. Food expert. Hardcore twitter maven. Thinker. Freelance organizer. Social media enthusiast. Creator. Beer buff.

Leave a Reply

Your email address will not be published. Required fields are marked *