Twitter post solid Q1 results but outlook sinks stock
Like its bigger tech peers, Twitter posted stronger-than-expected results for the first quarter on Thursday. But its lukewarm revenue outlook sent shares tumbling after hours. The San Francisco-based company earned $68 million, or 8 cents per share, in the January-March period. Twitter had 199 million daily users, on average, in the third quarter, up 20% year-over-year and slightly below the 200 million that analysts were expecting. Twitter said it expects revenue between $980 million and $1.08 billion for the second quarter. The midpoint of that is below analysts’ expectations of $1.06 billion.