Twitter forecasts soft fourth-quarter revenue, shares drop 8 percent

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.