Twitter Shares Fall After Disappointing Quarterly Metrics
Twitter said it lost $175 million, or 29 cents a share, in the third quarter
Shares of Twitter were down 11 percent in after-hours trading Monday after the company posted quarterly financial results that included disappointing "engagement" numbers and guidance.
Twitter said its monthly users rose 23 percent to 284 million in the third quarter, though timeline views per user — a measurement of engagement — fell 6 percent in the U.S. to 774. Total timeline views globally was 181 billion, just under what analysts had expected.
The social-media company said Monday that its revenue more than doubled to $361 million in the third quarter, almost $10 million more than analysts had projected.
Though for the Christmas quarter, Twitter said revenue would be somewhere between $440 million and $450 million, which is at the low end of the $449 million that analysts were expecting.
Twitter said it lost $175 million, or 29 cents a share, in the third quarter. A year earlier, prior to the company's initial public offering at $26 per share, it lost $65 million.
Shares of Twitter fell 3 percent Monday to $48.56, though they were off another $5 a share after the closing bell.