Quarterly results from Twitter failed to impress Tuesday and sent the company’s shares down 24 per cent.
Quarterly results from Twitter failed to impress Tuesday and sent the company’s shares down 24 per cent. The social network hit its user target for the first quarter but growth in users was slow. The company forecast that its revenue for 2015 would be $2.17 billion to $2.27 billion a drop from earlier forecasts of around $2.3 billion. Analysts had hoped for $2.37 billion. Twitters direct response advertising revenue failed to reach its expectations and the click rate on ads was lower. Although some growth in revenue and user numbers was reported, the lower the expected figures disappointed and the share value plunge was exacerbated by the results being leaked before the closing
