Twitter Stock Plunges Up To 20% After Missing On Earnings

it faced “a number of headwinds” with its revenue for the rest of the year, including product issues and weaker-than-expected advertising business.

The social networking site missed top- and bottom-line estimates, reporting profit of just 17 cents per share, compared with the 20 cents expected. For the first time since late 2016, Twitter’s revenue didn’t surpass guidance expectations: Although it grew 9% year-over-year, revenue was reported at just over $823 million—a steep miss from the $874 million expected by Wall Street.

Quarterly advertising revenues took a hit from weak volumes in July and August, coming in at $702 million—Despite missing out elsewhere, Twitter did continue to steadily grow in a key metric—its monetizable daily user base, which rose to 145 million from 139 million last quarter.“Despite its challenges, this quarter validates our strategy of investing to drive long-term growth,” Twitter CFO Ned SegalTwitter shares were up 35% for the year before the company missed earnings expectations.

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Twitter stock tumbles 20% after company says advertising bugs weighing on earningsTwitter Inc. shares were tanking in premarket trading Thursday after bugs in the company’s ad platform led to misses across the board on its financial... I like Twitter Twitter still hasnt come clean about how many bots there really are. The self reported number is way lower than it really is.
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