Twitter squawks as user growth and guidance come up light
SHARE
Twitter Inc. took a beating in after-hours trading today, its stock down more than 11% after missing expectations on user growth and offering lower-than-expected guidance for the next three months.
That took the sheen off an otherwise solid performance. Twitter reported a first-quarter profit before certain costs such as stock compensation of 16 cents per share on revenue of $1.04 billion, up 28% from a year ago. Wall Street had modeled an adjusted profit of 14 cents per share on revenue of $1.03 billion.
Twitter said its advertising revenue rose 32% from a year ago, to $899 million, while data licensing sales rose 9%, to $137 million.
By Salvador Rodriguez, CNBC •
Updated on April 29, 2021 at 5:59 pm
Jim Watson | AFP | Getty Images
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.
Download our NBC DFW mobile app for Apple or Android to get alerts for local breaking news and weather.
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
Replay Video UP NEXT
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.
By Salvador Rodriguez, CNBC •
Updated on April 29, 2021 at 3:59 pm
Jim Watson | AFP | Getty Images
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.
Download our NBC 7 mobile app for iOS or Android to get alerts for local breaking news and weather.
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.
With eCommerce on the rise, the growing expectation is that, eventually, everything will be shoppable , with everything you see in a video on Instagram or TikTok, or every item you see in a posted image from a Facebook Page, made available for immediate purchase within a few clicks.
And Twitter s also looking to ensure that it doesn t miss the eCommerce boat. Last week, during its Analyst Day presentation, Twitter pointed to various new commerce options in development. And this could be the first one, with a new Twitter card type for eCommerce that adds a large Shop CTA button, linking through to a transaction page.