Twitter Q3 Revenue Disappoints, but Bright Future May Be Ahead
Twitter reported its Q3 earnings results on Tuesday, which have largely missed analyst forecasts.
The social media company has announced a loss per share of 67 cents on revenue of $1.28 billion, falling short of anticipated earnings per share of 17 cents on revenue of $1.29 billion.
Generally, however, Twitter shares are up 58% from the beginning of the year, outperforming the Nasdaq 100, which is up 20.73% from the start of the year. The company also reported average daily active users of 211 million, up 13% year over year, and has seen strong contributions from small and medium-sized business customers, with double-digit revenue growth.
Looking ahead, Twitter said it expects total revenue to be between $1.5 billion and $1.6 billion. Following the report, Twitter's shares gained 3.45%, reaching $63.55.
In turn, Alphabet has reported EPS of $27.99 on revenue of $65.12 billion, compared to expected EPS of $23.84 on revenue of $63.47 billion. Facebook beat expectations with EPS of $3.22 on revenue of $29.01 billion, compared to the forecast of EPS at $3.19 on revenue of $29.58 billion.
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