Twitter Plunges On Q1 Revenue Miss, Soft Q2 Outlook

By | April 26, 2016

Scalper1 News

Microblogging social network Twitter ( TWTR ), which is trying to respark user growth, late Tuesday posted a Q1 revenue miss and gave Q2 revenue guidance well below expectations, and the stock plunged after hours. Twitter stock was down more than 10% in after-hours trading, after the company released its latest earnings. Shares had risen 3.9% in Tuesday’s regular session, closing at 17.75 and earlier touching a six-week high just shy of 18. The company was set to hold its earnings conference call with analysts later Tuesday. Twitter posted revenue of $594.52 million, up 36% year over year. Analysts polled by Thomson Reuters had expected $607.84 million. The microblog posted EPS ex items of 7 cents, up 114% year over year. That’s above the EPS ex items of 10 cents that analysts polled by Thomson Reuters were expecting. For Q2, Twitter guided revenue of  $590 million to $610 million. That fell far short of the $677.57 million analysts polled by Thomson Reuters had modeled. The company said monthly active users rose 3% from Q1 2015 to 310 million, which also is up from 305 million in Q4. The company has been trading underneath its 2013 IPO price of 26 since late December. Scalper1 News

Scalper1 News