Today's Hard|Forum Post
Today's Hard|Forum Post

Wednesday April 27, 2016

Twitter Stock Plunges After Revenue Misses Estimates

It looks as though Twitter has disappointed Wall Street once again. Even though revenue was up and its net loss was smaller, Twitter shares took a fourteen percent nosedive in late trading yesterday.

Twitter shares plunged 13.6 percent to $15.34 in late trade on Tuesday after reporting lower-than-expected revenue, hurt by weaker than expected spending by big advertisers, and providing a current-quarter revenue forecast well below analysts' expectations. Twitter's user base grew modestly to 310 million monthly active users in the quarter ended March 31 from 305 million in the fourth quarter, above analysts' expectations. But investors were let down by the revenue miss since outlining a turnaround plan.