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 to 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.
The skills I picked up over the years helped me avoid this crash in $TWTR, after I tripled-up from the $15.00 price tag back in 2016.
Give us the edit button and kick tRUMP and the racist and trolls off of here then we can talk.
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