NEW YORK (TheStreet) -- Twitter (TWTR) - Get Report announced better than expected third quarter revenue before the market open on Thursday, as well as plans to cut 9% of its global workforce in order to meet a profitability goal.

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.

Wedbush Securities analyst Michael Pacheter appeared on "Bloomberg Daybreak: Americas" this morning to discuss Twitter's announcements. BloombergTV's Jonathan Ferro questioned Pacheter on whether or not Twitter is cleaning house in order to sell or run itself more efficiently on its own.

"I think probably the latter," Pacheter said. "I think they would entertain an offer above the IPO price. But I don't think that they're doing anything at the direction of a proposed, potential acquirer."

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It appears to Pacheter that Twitter is looking to make itself profitable on a GAAP basis and exit next year in a profitable state. Twitter is now taking the steps that, in Pacheter's opinion, it should have taken several quarters ago to improve profitability.

Twitter stock is gaining this morning. 

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

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