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Twitter Shares Plunge After Revenue Hit by Low Demand

October 24, 2019


Twitter posted worse-than-expected third quarter revenue and profit on Thursday, which the company attributed to advertising problems including product bugs and unusually low demand over the summer, sending its shares down about 15 percent.

Shares of the micro-blogging platform dropped to $33 in trading before the bell.

Twitter’s revenue rose 9 percent from a year earlier to $824 million, missing Wall Street expectations of $874 million, based on IBES data from Refinitiv. Total advertising revenue was $702 million, an increase of 8 percent year-over-year.

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