Twitter fell short on revenue but gained on userbase

Twitter fell short on revenue but gained on userbase

Due to the pandemic, the number of Twitter users increased

The earnings season was mixed for Twitter.

During the pandemic, the number of users increased by 20 million to 186 million in the last quarter, exceeding the 172 million expected.

However, revenue came below the expected $702 million at $683 million. The US generated $365 million, while the rest of the world brought $319 million.

The revenue generated from ads dropped by 23% to $562 million, with a 15% decrease in the past three weeks.

The quarterly net loss came in at $1.23 billion.

Twitter announced it would release its Q3 results on October 29, after market close.

Today, after the report, its shares went up 4%. In the past quarter, the stock rose by 39%, while USA500 added 17%.

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Sources: marketwatch.com, markets.businessinsider.com

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