Twitter posts Q3 net loss due to lawsuit settlement
Twitter posted a net loss Tuesday due mostly to a lawsuit settlement it paid, but its revenue rose sharply in the third quarter, boosted by solid ad sales around the globe. The San Francisco-based company said Tuesday that its net loss was $536.8 million, or 67 cents per share, in the July-September quarter. That’s down from a profit of $28.7 million, or 4 cents per share, in the same period a year earlier. Shares of Twitter climbed $1.29, or 2.1%, to $62.72 in after-hours trading.