Twitter reports strong Q3 results, but stock falls short on user growth

Описание: Julia Boorstin joins 'Closing Bell' to report Twitter's third quarter results. Twitter beat on the top and bottom line, but the company grew its monthly daily active users by just 1 million from last quarter, taking the total to 187 million and falling shy of analysts’ expectations of 195 million. Subscribe to CNBC PRO for access to investor and analyst insights on Twitter and more: https://cnb.cx/3dIH56N

Twitter stock plunged more than 19% Friday after the company reported disappointing user growth but beat analysts’ expectations on profit and revenue. Twitter grew its total monetizable daily active users by just 1 million people from last quarter to 187 million users, falling shy of analysts’ expectations of 195 million mDAUs for the third quarter. The company attributed last quarter’s growth in large part to shelter-in-place orders around the world.

“The good news is we did have a big surge in usage in March,” Chief Financial Officer Ned Segal told CNBC’s “Squawk Box” on Friday. “The great news about that is we’re retaining that group of people better than we have historical groups because of all the product work we’ve done. So, the way it’s flowed through our monetizable daily active usage, we ended up growing our DAU by a million sequentially this quarter, but 42 million year over year.”

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