Twitter shares plunge 20.81% on bad earnings report
Twitter shares plunged 20.81 per cent to $30.75 on Thursday on the New York Stock Exchange after announcing quarterly results reflecting a sizable reduction in profits and a deceleration in earnings between July and September due to technical errors that hurt its advertising business.
Twitter`s profits collapsed by about 95 per cent to $36.5 million even though the firm`s income increased by almost 9 per cent to $823.7 million. Image source: Reuters