Dismal Twitter Forecast Sends Stock Lower

October 27, 2015 8:50 PM

37 0

Dismal Twitter Forecast Sends Stock Lower

SAN FRANCISCO — Twitter, the social media company, gave investors a dismal forecast Tuesday for its fourth-quarter revenue and profits, sending its stock plunging more than 10 percent in after-hours trading.

The forecast, delivered as the company exceeded projections for its third-quarter results, suggests that Twitter is failing to gain traction with advertisers, the source of most of its revenue, amid stiffening competition from Facebook, Instagram and Google.

Also read: UPDATE 1-Industrial equipment hire firm Ashtead hikes annual results forecast

Read more

To category page

Loading...