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.