Twitter's quarterly revenue growth slowed sharply in the third quarter but topped analysts' expectations, and the company said it would cut 9 per cent of its global workforce. Revenue rose about 8 per cent to $616 million, above the average analyst estimate of $605.8 million. The company reported a 20 per cent rise in revenue in the previous quarter and 58 per cent last year. Excluding items, the company earned 13 cents per share, beating the average analyst estimate of 9 cents, according to Thomson Reuters I/B/E/S. The company's net loss narrowed to $102.9 million, or 15 cents per share, in the third quarter ended Sept. 30, from $131.7 million, or 20 cents per share, a year earlier.

Source: The Star October 27, 2016 12:09 UTC