Twitter Shares Down On Weak Outlook

Twitter Inc TWTR reported better-than-expected earnings for the third quarter, but the company issued a weak revenue forecast. The company posted a quarterly net loss of$131.7 million, or $0.20 per share, versus a year-ago loss of $175.5 million, or $0.29 per share. Its revenue surged to $569.2 million from $361.3 million. However, analysts were expecting earnings of $0.05 per share on revenue of $559.68 million. Its total monthly active users climbed 11 percent year-over-year to 320 million. The average estimate among 377 Estimize users was for earnings of $0.06 per share and revenue of $560.52 million. "We continued to see strong financial performance this quarter, as well as meaningful progress across our three areas of focus: ensuring more disciplined execution, simplifying our services, and better communicating the value of our platform," CEO Jack Dorsey said. For the fourth quarter, the company expects revenue of $695 million to $710 million, versus analysts' estimates of of $741 million. Twitter shares dropped 10.18 percent to $27.80 in the after-hours trading session.