Twitter stock plunges on user miss and low guidance
CNBC
4/29/2021
Salvador Rodriguez
The company reported revenue of $1.04 billion for the quarter, which was up 28% from $808 million a year prior.
Twitter guided that it is expecting revenue between $980 million and $1.08 billion in the second quarter. Analysts were expecting guidance of $1.06 billion on average, according to Refinitiv.
Twitter's total number of monetizable daily users grew by 7 million from the fourth quarter to 199 million but fell shy of analysts' expectations of 200 million.
Twitter gets hit on earnings
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Twitter's stock was down more than 11% in after-hours trading on Thursday after the company released its first-quarter earnings, missing on user growth expectations and providing lower revenue guidance for the second quarter than expected.