News Formal

Twitter Gains 5 Million Users in Q3, Misses Earnings Expectations on Litigation-Settlement Charge

  • 📰 Variety
  • ⏱ Reading Time:
  • 8 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Twitter touted user gains in the third quarter of 2021 and reported healthy growth in revenue, but it dramatically missed Wall Street earnings estimates. The company said average monetizable DAUs r…

Q3 revenue totaled $1.28 billion, an increase of 37% year over year. ○ US revenue totaled $742 million, an increase of 45% year over year. Net loss was $537 million, representing a net margin of -42% and diluted earnings per share of -67 cents. The loss in the period includes a one-time litigation-related net charge of $766 million for Q3, related to the company’s

agreement to settle a class-action lawsuit alleging Twitter and its executives provided misleading user-engagement info to investors

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 108. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump SPAC Digital World Acquisition drops 10% after huge gains on social media merger newsFormer President Donald Trump plans to launch a competitor to Twitter and Facebook with the help of a SPAC. The stock of that company, DWAC, exploded last week.
Source: CNBC - 🏆 12. / 72 Read more »

Asia stocks catch Wall St cheer but China caps gainsAsian stocks inched higher on Tuesday, as upbeat Wall Street earnings lifted the broader economic outlook though fresh worries about China's property sector hit Hong Kong and mainland markets.
Source: Reuters - 🏆 2. / 97 Read more »