Twitter shares fell 17% on the back of weak statements for the third quarter of 2019 the year

The company received $ 37 million in net profit – analysts expected $ 161.5 million.

  • Twitter published financial results for the third quarter of 2019: the company’s revenue grew by 9% year-on-year and amounted to $ 824 million. Net income was $ 37 million or $ 0.05 per share. Analysts polled by Reuters expected Twitter to receive $ 874 million in revenue and $ 161.5 million in profit.
  • Advertising revenue amounted to $ 702 million (+ 8%). Monetized Twitter audience (mDAU) in the third quarter grew by 17% year-on-year – up to 145 million users per day. In the second quarter of 2019 mDAU on average amounted to 139 million users a day.
  • At the opening of trading on the New York Stock Exchange on October 24, Twitter’s share price fell 17% to $ 32.16 apiece. At a minimum, stocks were trading at $ 31.10. At the close of previous trading, the company’s securities were worth $ 38.83 per share.
  • “We are pleased with the progress made, but we feel responsible for the difficulties that have arisen, and we intend to solve them,” said Ned Segal, Twitter financial director. He warned investors that in the fourth quarter, the results would also be lower than expected.

Twitter revenue hit by weaker advertising, low …Twitter Inc posted worse-than-expected third quarter revenue and profit on Thurs … WWW.REUTERS.COM

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