Twitter Shares Plunge Sharply After Downbeat Q4 Earnings Report
Shares of Twitter Inc. plunged more than 10% in premarket trade on Thursday after the social media company’s Q4 earnings report missed expectations.
Twitter posted a net loss of $167 million, or 23 cents per share in the fourth quarter, compared to a loss of $90.2 million, or a loss of 13 cents in the year-earlier period. Excluding one-time items, adjusted earnings per share came in at 16 cents, above the consensus of 12 cents.
Revenue was reported at $717 million, up 1% from one year ago, but still missed forecast of $739.7 million.
During the three-month period to December, Twitter’s monthly active users rose 0.6% to 319 million from the 317 million in the previous quarter. While monthly active users advanced 4% year-over-year, daily active users grew 11% on a yearly basis.
For the first quarter of 2017, Twitter adjusted its guidance for EBITDA in the range of $75 million to $95 million, which is far below Wall Street’s expectation of $191.3 million.
Sell Stop at 16.75, Take profit 16.00, Stop loss at 17.00