Twitter forecasts soft fourth-quarter revenue, shares drop 8 percent
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Oct 27, 2014 - 12:00 am GMT+3
by
Oct 27, 2014 12:00 am
Twitter Inc's quarterly revenue surpassed expectations but it forecast fourth-quarter sales that may miss targets, sending its shares more than 8 percent lower.
On Monday, the messaging service reported revenue more than doubled to $361 million in the third quarter, beating an average forecast for $351.4 million. But it projected sales of between $440 million and $450 million in the holiday quarter, versus expectations for around $448.8 million.
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Research Associate at Center for Islam and Global Affairs (CIGA) at Istanbul Sabahattin Zaim University
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