(CNBC) Twitter shares closed more than 20 percent down on Friday after the company reported a decline in monthly active users and weak guidance.
Twitter reported second-quarter earnings before the bell on Friday:
- Earnings per share: 17 cents vs. 17 cents, according to a Thomson Reuters consensus estimate
- Revenue: $711 million vs. $696.2 million, according to a Thomson Reuters consensus estimate
- Monthly active users (MAUs): 335 million vs. 338.5 million, according to StreetAccount and FactSet estimate
Shares opened down 14 percent. Today’s losses mark the worst single day percentage drop since 2014 for the company, and the second worst in Twitter’s history.
#BREAKING: Twitter’s stock price has collapsed!
The social media giant closed just over 34 U.S dollars, a massive drop of 20%. pic.twitter.com/J2KkuV84ZH
— Sunrise (@sunriseon7) July 27, 2018