Economy

Twitter earnings impress, users up by 4 million

Twitter revealed it has been miscalculating its monthly active users (MAUs) all the way back to the fourth quarter of 2014.

The issue may add to credibility problems for Twitter, which has been under pressure to weed out fake accounts and bots.

By the end of the third quarter on September 30, Twitter said it had about 330 million users.

Over the past two years, Twitter has added an average of just under three million new users per quarter, which means Twitter is losing nearly as many old users as it's gaining new users.

Twitter shares rallied 8.2 percent in pre-market trading following the release of the results.

Net loss for its third quarter 2017 narrowed to $21.10 million or $0.03 per share from $102.87 million or $0.15 per share in the same quarter previous year. The bottom line benefited from a 16% cut in GAAP expenses. And Twitter said daily active users - a metric for which it has declined to offer details - rose 14 percent from a year ago. Quarterly non-GAAP net income was $77.85 million, or $0.10 per share, compared to $61.39 million, or $0.09 per share in the prior year.

"This quarter we made progress in three key areas of our business: we grew our audience and engagement, made progress on a return to revenue growth, and achieved record profitability", said Twitter's CEO Jack Dorsey said in a statement.

The company said it lost $21.1 million, or 3 cents a share, in the third quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter declined about 4% to $589.63 million from $615.93 million a year ago.

Twitter slightly beat Wall Street's expectations for its third-quarter earnings with $590 million in revenue vs. $587 million expected.



Like this

Latest


28 October 2017
Ben Stokes was a real hero, reveals the gay couple he defended
Ben bought us J├Ągerbombs. "He knew we were gay but he didn't make anything of it". When they were called the word again, Stokes intervened and stood up for them.

28 October 2017
Brokerage Overview of: Array BioPharma Inc. (ARRY)
Finally, Virginia Retirement Systems ET AL bought a new position in Array BioPharma during the second quarter valued at $181,000. (NASDAQ:ARRY) have received an average recommendation of "Buy" from the eight ratings firms that are covering the company.

28 October 2017
Buffalo Wild Wings, Inc. (BWLD) Shares Gap Up Following Analyst Upgrade
Buffalo Wild Wings makes up about 1.7% of Roanoke Asset Management Corp NY's holdings, making the stock its 24th largest position. After this sale, 12,596 common shares of BWLD are directly owned by the insider, with total stake valued at $1,523,486.

28 October 2017
Grows Position in CMS Energy Corporation (CMS)
The total amount of shares outstanding is 282.07 million, giving the company a market capitalization of about 13.52 billion. The average Wall Street analyst rating for CMS Energy Corporation is Hold, according to the average of 8 analyst scores.

28 October 2017
Google Search becomes country-specific by default
Here, it means that whatever country domain you use, the information will be based on the country you are residing. For example, even if you are now using.co.uk domain, still you will get the info of the country you are now in.

28 October 2017
Amazon (AMZN) 3rd Quarter Earnings: What To Expect
Amazon's $13.7 billion Whole Foods acquisition accounted for $1.3 billion of revenue with an operating income of $21 million. The revenues from its worldwide business for the quarter under review stood at $13.7 billion.

28 October 2017
Old Dominion Freight Line Q3 Earnings Advance 20%
BidaskClub raised Old Dominion Freight Line from a "buy" rating to a "strong-buy" rating in a report on Sunday, July 16th. Equities analysts predict that Old Dominion Freight Line will post $4.15 earnings per share for the current fiscal year.

28 October 2017
Does The Data Supplment The Charles Schwab Corporation (NYSE:SCHW) Movement?
Pentwater Capital Management Lp bought 1.67 million shares as the company's stock declined 26.83% while stock markets rallied. Company's EPS for the past five years is valued at -20.7%, leading it to an EPS value of 0% for the next five years.

28 October 2017
Kenny Rogers Performs Final Nashville Concert
"I know I'm artificial, but I like to think my heart's real, and it may be the only thing real about me", Parton said. According to USA Today , Parton says she might still convince him to make music behind the scenes.

28 October 2017
CBSE releases applications for compartment, improvement and failed candidates @ cbse
Candidate who has been declared as FAIL at the All India Senior School Certificate Examination (Class XII). For class 10, a total of 37,12,508 students are expected to appear while in class 12, it is about 3017032.



Recommended