Twitter shares fall 11% after third-quarter earnings
Twitter Inc. shares TWTR, -6.29% fell 11% the after hours Tuesday after the company beat earnings expectations but delivered a lower-than-forecast revenue outlook, according to Marketwatch.com.
Twitter reported a net loss of $132 million, or a loss of 20 cents per share, compared to a loss of $175 million, or a loss of 29 cents per share in the year-earlier period. Twitter reported adjusted earnings per share of 10 cents, above the FactSet consensus of 5 cents per share. Twitter reported revenue of $569 million, up from $361 million in the year-earlier period and above the FactSet consensus of $559.8 million.
Twitter said it expects fourth-quarter revenue between $695 million to $710 million, below the previous FactSet consensus of $741 million. The company reported total monthly active users of 320 million, up 11% on a year-over-year basis.