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Home / Business / As user growth slowed, Twitter shares plummeted

As user growth slowed, Twitter shares plummeted



Due to the surge in demand from advertisers, Twitter’s third-quarter results were stronger than expected, but profits fell, and the number of daily users was lower than analysts expected.

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This caused the stock to plummet by 1

5% in after-hours trading. The stock closed up 3.92 US dollars to 52.43 US dollars, an increase of 8.1%.

Stock code Safety continued change change%
TWTR TWITTER INC. 52.43 +3.90 + 8.04%

The San Francisco-based company’s revenue from July to September was $28.66 million, or 4 cents per share. Due to the increase in part of the expenses related to COVID-19, it dropped by 22% compared to the same period last year. Excluding one-time items, earnings per share were 19 cents.

Revenue increased by 14% from US$823.7 million to US$936.2 million.

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Twitter’s average daily users in the third quarter were 187 million, but it was below analysts’ expectations of 195.6 million. The company no longer discloses monthly user data.

“Last year, as people from all over the world came to Twitter to learn about the topics and events that they care about most, our daily audience increased by 42 million. I am very happy that mDAU increased by 29% year-on-year to 187 million. The promotion of global conversations.” Twitter CEO Jack Dorsey said.

According to the FactSet survey, analysts on average expect the company to lose 10 cents per share, adjusted earnings per share of 6 cents, and revenue of 777.3 million US dollars.

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The company predicts uncertainty due in part to the upcoming U.S. election, and said it “difficult to predict how advertisers’ behavior will change.”

The Associated Press contributed to this report.


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