Live Blog Twitter Q3 Live Blog
NEW YORK (TheStreet) –– Twitter (TWTR) - Get Twitter, Inc. Report has had a rocky 2014 so far, with shares moving violently based on how many millions of monthly active users (MAUs) it adds in a quarter, and that's not going to end anytime soon as the San Francisco-based company reported third quarter earnings that missed consensus MAU adds.
For the third quarter, Twitter earned an adjusted 1 cent a share on revenue of $361 million, up 114% year over year, however it added just 13 million MAUs, leaving it with 284 million at the end of the quarter. Analysts surveyed by Thomson Reuters expect the social network to earn an adjusted 1 cent a share on $351.35 million in revenue.
"We had another very strong financial quarter" said CEO Dick Costolo in the press release. "I'm confident in our ability to build the largest daily audience in the world, over time, by strengthening the core, reducing barriers to consumption and building new apps and services."
For the fourth quarter, Twitter's said it expects revenue to be between $440 million and $450 million, with Adjusted EBITDA between a range of $100 million to $105 million. The company also revised its outlook for 2014, saying it expects revenue to be between $1.365 billion and $1.375 billion, with adjusted EBITDA in the range of $260 million to $265 million.
Twitter shares closed the regular session lower, falling 2.8% to close at $48.56. In the late trading session after the close of the conference call, shares fell another 10.1% to $43.60.
Written by Chris Ciaccia in New York
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