Twitter stocks are still reeling from Q3 results announced on Thursday which fell significantly below the mark set by analysts' expectations. In terms of revenue, projections ranged from $874 million to $883 million, compared to the $824 million announced for the quarterly earnings up to September 30. Investors, told to expect earnings per share of 20 cents, will have to make do with the disappointing 5 cents achieved by the social media company.
In a letter to shareholders, Twitter clarified the situation, explaining: "Performance was impacted by revenue product issues and greater-than-expected seasonality. In Q3 we discovered, and took steps to remediate, bugs that primarily affected our legacy Mobile Application Promotion (MAP) product, impacting our ability to target ads and share data with measurement and ad partners."
