 "Twitter reports loss and flat user growth in Q2")
Twitter Inc (TWTR) today reported a loss of $116.5 million in its second quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 16 cents. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.
The results beat Wall Street expectations. Beginning with the April-June quarter, Twitter changed the way it calculated adjusted earnings.
The short messaging service posted revenue of $573.9 million in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $536.8 million.
Twitter said its monthly average user base in the April-June quarter grew 5% from the previous year to $328 million, but it was unchanged from the previous quarter.
Twitter's stock fell more than 9% to $17.75 in pre-market trading today after the numbers came out.
Twitter shares have increased 20% since the beginning of the year. The stock has risen slightly more than 6% in the last 12 months.
On a per-share basis, the San Francisco-based company said it had a loss of 16 cents. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.
The results beat Wall Street expectations. Beginning with the April-June quarter, Twitter changed the way it calculated adjusted earnings.
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Under the old method, it would have been 12 cents per share. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The short messaging service posted revenue of $573.9 million in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $536.8 million.
Twitter said its monthly average user base in the April-June quarter grew 5% from the previous year to $328 million, but it was unchanged from the previous quarter.
Twitter's stock fell more than 9% to $17.75 in pre-market trading today after the numbers came out.
Twitter shares have increased 20% since the beginning of the year. The stock has risen slightly more than 6% in the last 12 months.