Twitter: Revenue below expectations – Same forecasts for the rest of the fiscal year.
TWITTER published its financial results for the last quarter, in which revenues appear significantly lower than forecasts.
Dick Costolo, chief executive at TWITTER, said that “it’s still early days for new products” to perform as expected.
The company reported revenue of $436 million, up 74% from the same period last year, but lower than forecasts.
Twitter is forecasting full-year revenue of $2.17 billion to $2.27 billion. These forecasts are significantly lower than its December forecast, which called for revenue between $2.3 billion and $2.35 billion.
After the results were announced , Twitter's stock fell by 18% before the market closed.
The social media platform's users increased by 18% on a monthly basis, reaching 320 million for the first quarter.
Source: gr.pcmag.com/
