Twitter Stock Drops 10% on Concerns About User Growth in Q3

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Twitter beat revenue estimates and matched on earnings for the September quarter, but Wall Street could care less

Twitter posted a slight profit of $0.01 per share for the third quarter, matching analysts’ estimates, and posted revenue of $361 million, coming in well ahead of estimates for revenue of $351 million. Yet, the company’s stock, which had dipped by about 3% in trading Monday, fell by more than 10% in after hours trading following the results

The driving factor, as always with Twitter, appears to be user growth. The social network had 284 million monthly active users in the quarter, up 23% year-over-year, but an increase of less than 5% from the previous quarter. The latest figure has once again reignited concerns about Twitter’s slowing growth and potential to become a mainstream during on par with Facebook …

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Via: Mashable: Business

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