Weak profit, revenue, overshadow Twitter user growth
FILE - In this Sept. 18, 2019, file photo a screen shows the price of Twitter stock at the New York Stock Exchange. Twitter reports financial earns on Thursday, Oct. 24. (AP Photo/Mark Lennihan, File)
SAN FRANCISCO — 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.
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.
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The Associated Press