Twitter posted worse-than-expected third quarter revenue and profit on Thursday, which the company attributed to advertising problems that included product bugs and unusually low demand over the summer, sending its shares down more than 17 percent in early trading. Twitter’s revenue rose 9 percent from a year earlier to $824 million, missing Wall Street expectations of $874 million, according to data from Refinitiv. Total advertising revenue was $702 million, an increase of 8 percent year-over-year. The company had forecast that third quarter revenue growth would lag the first two quarters, partly because of the ending of some older ad formats. However, the social media platform did record a rise in daily users who see ads on the site, beating analyst estimates.

Source: New York Times October 24, 2019 12:54 UTC