Twitter failed to meet the expectations in the third quarter. Despite the $37m profit in the last quarter, bugs and the low demand over the summer affected Twitter’s revenue in the third quarter negatively. Revenues were 9% higher than the last year at $824m, but it is still failed to meet the expectations. Twitter admits the current technical issues may affect the fourth quarter results too.
Twitter Chief Executive Officer Jack Dorsey said: “Unfortunately we had some missteps. I have a lot more confidence in our abilities and our team today than looking back just two years ago. We have a lot more agility.” Twitter announced that they are expecting revenue between $940m to $1 billion in the last quarter of 2019. They also claimed news users joining Twitter every month and they are working on ads algorithm improvements that will help them grow.
Stay tuned for up-to-date Network/Internet News