10/29, 9:08 PM (Source: TeleTrader)
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Chart for: Twitter Inc

Twitter gains fewer users than expected in Q3

Twitter’s revenue surged 14% year on year to $936.2 million in the third quarter, the company announced on Thursday, beating market expectations. However, daily average users increased by 29% to 187 million in the quarter and came in below forecasts.

Meanwhile, diluted earnings per share came in at $0.04 in the quarter ended September 30, decreasing by 20% from the same period last year. Net income declined by 21.5% over the same time to $28.6 million.

"“We have grown our daily audience by 42 million in the last year as people all around the world come to Twitter to find out about the topics and events they care about most. We’re helping people find trusted sources of information by better organizing and surfacing the topics and interests that bring people to Twitter," CEO Jack Dorsey said.

Following the earnings release, Twitter shares dropped 10.07% in after hours trading.

Breaking the News / VP