Weak profit, revenue, overshadow Twitter user growth

Disappointing third-quarter profit and revenue numbers at Twitter are overshadowing surprisingly strong user growth, sending shares of the social media company plummeting 20% before the opening bell.

Interested in Twitter?

Add Twitter as an interest to stay up to date on the latest Twitter news, video, and analysis from ABC News.

The San Francisco company also lowered its outlook for the fourth-quarter and the year.

Net income was $37 million in the quarter, compared with adjusted net income of $106 million in the same period last year. On an earnings per share basis, the company had net income of five cents, compared with 14 cents for the same period last year. Analysts were expecting closer to 20 cents per share.

Source link