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- Twitter reported its third-quarter earnings Thursday before the opening bell.
- The company reported net income of $37 million, and adjusted earnings per share of $0.05.
- Revenue rose 9% to $824 million.
- Daily active users rose 17% to 145 million.
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Twitter’s stock price plunged 12% in pre-market trading, as the social media giant’s third-quarter earnings missed Wall Street’s revenue and profit expectations.
Its revenue rose 9% to $824 million as product issues and greater-than-expected advertising seasonality in July and August outweighed strong trading in the US in September. The sales drop, combined with a similar level of spending, fueled a 52% drop in operating income to $44 million.
Here are the key numbers from its third-quarter financials:
- Revenue: Up 9% from Q3 2018 to $824 million. Analysts polled by FactSet had expected an average of $873.9 million.
- Earnings per share: Adjusted EPS of $0.05, down from $0.14 last year. Analysts had expected $0.20 per share.
- Average daily users: 145 million, up 17% from last year. It added 6 million new monetizable daily active users, beating analysts’ expectation of 3 million.
- Q4 guidance: Revenue between $940 million and $1.01 billion, below analysts’ expectation of $1.06 billion
This story is being updated…
