Tuesday 14 July, 2020

Twitter reports 1Q loss

Twitter Inc. is reporting a loss of $61.6 million in its first quarter.

The San Francisco company said it had a loss of 9 cents per share. Earnings, adjusted for one-time gains and costs, were 11 cents per share.

The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The short messaging service posted revenue of $548.3 million in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $512.1 million.

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