Twitter’s Stock Stumbles Despite Earnings Beat
Twitter (NYSE:TWTR) reported mixed Q1 2016 results on Tuesday, with adjusted earnings per share beating market expectations but revenue guidance falling far short of analyst consensus estimates. The company reported adjusted earnings of 15 cents per share in the first quarter, easily beating analyst consensus estimates of 10 cents a share. In terms of the top line, Twitter reported a 36% year-over-year (y-o-y) increase in revenue to $595 million, about $13 million short of market expectations.
For Q2 2016, the company’s guidance of $590-$610 million was about 13% below analyst consensus estimates of $678 million. The company’s stock price stumbled over 12% following the results announcement.
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