Twitter missed revenue expectations Friday with its latest results while swinging to a loss. $TWTR shares were down about 2% in premarket trading.
Twitter TWTR, -0.20% missed revenue expectations Friday with its latest results while swinging to a loss. Its shares were down about 2% in premarket trading.
Twitter’s revenue for the latest quarter came it at $1.18 billion, nearly flat with the $1.19 billion it reported a year earlier, while analysts surveyed by FactSet were expecting $1.32 billion. The company said in a release that the results reflected “advertising industry headwinds associated with the macroenvironment as well as uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk.
On an adjusted basis, the company posted an 8-cent loss per share. It recorded 20 cents in adjusted earnings per share a year earlier. The FactSet consensus for the most recent quarter was for 14 cents in adjusted EPS.
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