Twitter Net Loss Widens, Shares Fell 9 Percent in After-Hours
Twitter's net loss grew by more than $100 million in the first quarter, though the company's operating earnings and revenue beat Wall Street estimates.
Shares fell 9 percent in after-hours trading.
The company broke even, excluding items, and reported revenue of $250 million.
Analysts had expected the company to report a loss, excluding items, of 3cents a share on $241 million in revenue, according to a consensus estimate from Thomson Reuters.
The net loss grew to $132.4 million, or 23 cents per share, from $27 million or 21 cents per share a year earlier.
Monthly active users hit 255 million, with mobile MAUs making up 78% of the total.
For the current quarter, Twitter forecast revenue of $270 million to $280 million and adjusted operating earnings of $25 million to $30 million. Analysts on average expected revenue of $272.9 million and adjusted operating earnings of $28.8 million.
Source: http://www.cnbc.com/id/101623566