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LIVE: Twitter shares plunge as user growth stalls
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Twitter CEO Jack Dorsey
Twitter shares plunged as much as 13% in after hours trading on Wednesday after the company reported that its user growth came to a halt in the fourth quarter.
Here are the key numbers:
MAUs: 320 million, compared to 320 million in the third quarter of 2015 and below the 323 million expected by analysts.
Revenue: $710 million, up 48% year-on-year and in line with the $710 million expected by Wall Street.
EPS (adjusted): 16 cents compared to the 12 cents average analyst expectation
Twitter's user growth came to a standstill in the final three months of the year, and the company's users in the U.S. actually declined from 66 million to 65 million.
Exclusing text messaging users of Twitter, the company's global audience also shrunk at the end of the year to 305 million, from 307 million in Q3.
Twitter said in a letter to shareholders on Wednesday that despite the Q4 user growth slowdown, things were picking back up.
"We've already seen January monthly actives bounce back to Q3 levels. We're confident that, with disciplined execution, this growth trend will continue over time," the company said.
That did not appear to reassure investors.
Twitter shares were down roughly 5% at $14.25 in after hours trading on Wednesday, after initially plunging about 13% when the results came out.
Wall Street is worried that the service's best days are behind it as users flock to newer apps such as Instagram, Snapchat, and WhatsApp. And Twitter's reduced stock price has prompted speculation that the company could become an acquisition target.
We'll be updating this post live as Twitter reports its Q4 earnings, so click here or hit refresh.
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