Twitter Q3 Loss Narrows, But Stock Tanks 10% On Weak Outlook

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The FINANCIAL — Twitter Inc. on October 27 reported third-quarter net loss of $131.7 million or $0.20 per share, lower than last year’s loss of $175.5 million or $0.29 per share, according to Nasdaq.

On an adjusted basis, earnings for the quarter were $67.0 million or $0.10 per share last year. On average, 38 analysts polled by Thomson Reuters expected earnings of $0.05 per share for the quarter. Analysts’ estimates typically exclude special items.

Revenues for the quarter rises to $569.2 million from $361.3 million last year. Analysts had a consensus revenue estimate of $559.59 million.

Looking forward to the fourth quarter, the company expects revenue of $695 million to $710 million. Analysts currently estimate revenues of $739.73 million.

Shares fall over 10 percent in the extended trading hours.

 

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