Twitter is sliding despite beating Wall Street expectations
Twitter reported its fourth-quarter earnings before the opening bell on Thursday.
It's generally been a happy earnings season for Silicon Valley, with the likes of Facebook and Snap topping Wall Street expectations.Twitter was under pressure to do the same, and it beat or matched analyst forecasts on some key indicators.
- Revenue: $909 million. Analysts were looking for $869.5 million. Sales were up 24% on $717 million in the final three months of 2017.
- Earnings per share: 31 cents, compared to 25 cents expected by Wall Street.
- Monthly active users: 321 million - down 9 million year-on-year, but matching the forecasted 321 million.
- Q1 revenue guidance: Between $715 million and $775 million. Wall Street is looking for $762.43 million.
Despite the performance, Twitter's stock slid nearly 8% in pre-market trading.