The Associated Press
SAN FRANCISCO (AP) — Disappointing third-quarter profit and revenue at Twitter overshadowed strong user growth, sending shares of the social media company plummeting more than 17% at the opening bell Thursday.
The San Francisco company also lowered its outlook for the fourth-quarter and for the year and blamed some of its problems in the most recent quarter on bugs in its advertising platform.
The company said it's addressing those issues, but that they will likely weigh on its advertising business in the near term.
Those problems caught industry analysts off guard and shifted their attention from some positive trends in growing user numbers that can drive the company's advertising revenue.
The number of people using Twitter daily in the most recent quarter jump