5 Stocks Making Noise After Releasing Their Earnings Reports

4. Twitter, Inc. (NYSE:TWTR)

Number of Hedge Fund Holders: 64

Shares of Twitter, Inc. (NYSE:TWTR) moved slightly down in the pre-market trading session on Wednesday, 27 October 2021, after the company announced weak financial results for the third quarter. The San Francisco-based microblogging site reported an adjusted loss of 54 cents per share, compared to earnings of 19 cents per share in the year-ago quarter.

Revenue came in at $1.28 billion, up from $936 million in the same period last year. Advertising revenue in the quarter climbed 41 percent on a year-over-year basis to $1.14 billion. Analysts were looking for a profit of 17 cents per share on revenue of $1.28 billion.

Looking forward, Twitter, Inc. (NYSE:TWTR) expects revenue in the range of $1.5 billion to $1.6 billion for the fourth quarter, compared to the consensus forecast of $1.59 billion.

Discussing the results, CEO Jack Dorsey said:

“I am proud of our third quarter results. We’re improving personalization, facilitating conversation, delivering relevant news, and finding new ways to help people get paid on Twitter. Average monetizable DAU (mDAU) reached 211 million, up 13% year over year in Q3, accelerating from 11% year over year growth in Q2, driven by ongoing product improvements and global conversation around current events.”