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

📆 10/26/2021 5:29 PM
📰 Variety

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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

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