NEW YORK (TheStreet) -- Shares of Twitter (TWTR) - Get Report are moving higher on Thursday afternoon, following the social media company's better than expected third quarter earnings results and an announcement that 9% of its global workforce will be cut in order to meet a profit goal.

Bloomberg tech reporter Sarah Frier appeared on "Bloomberg Markets: Americas" this afternoon to discuss Twitter's possible next move as its labor force shrinks and three potential acquirers step away from the negotiating table.

BloombergTV's Vonnie Quinn mentioned another social media phenomenon, SnapChat, which she referred to as a "dumbed down version of Twitter with photographs." SnapChat is valued at $25 billion to $35 billion.

"Well what you're seeing is the difference between growing and not growing," Frier said. "SnapChat is growing really fast, picking up audiences and Twitter is not. Their sales growth was 8% this year compared to 58% in the same quarter last year. That's a big drop off in the rate of growth. What people are looking at here is a company that needs to prove that if it's not going to grow quickly anymore, at least it can attempt to reaccelerate."

Twitter's third quarter earnings came in at 13 cents per share on revenue of $616 million. Analysts had anticipated earnings of 9 cents per share on revenue of $606 million.

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Twitter has set a goal to return to profitability in 2017 and cutting the jobs is one way to help that, Frier said.

One positive for Twitter is that its video is doing well.

"For Twitter it's definitely an important strategy to do the video streaming," Frier continued. "What it does for them is it brings in an audience that doesn't necessarily have to create an account, decide who to follow, all of those cumbersome things that come with starting to use Twitter."

This strategy opens more doors for Twitter, she added, as the viewer that isn't on Twitter can come in and become part of the company's audience by watching an NFL game or a presidential debate. This allows Twitter to advertise to them and generate some ad revenue.

"But we have yet to see if that's really going to accelerate growth here," Frier said.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate TWITTER INC as a Hold with a ratings score of C-. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, robust revenue growth and good cash flow from operations. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.

You can view the full analysis from the report here: TWTR