Why Twitter Stock Plunged Today
Shares of Twitter (NYSE: TWTR) fell 15% on Friday, following the release of the social media network's first-quarter results.
Twitter's number of monetizable daily active users jumped 20% year over year to 199 million. Its revenue, in turn, rose 28% to $1.04 billion, fueled by a 32% increase in ad sales to $899 million. Growth was particularly strong in international markets, where Twitter's revenue surged 41%, to $480 million.
"Advertisers continue to benefit from updated ad formats, improved measurement, and new brand safety controls," Chief Financial Officer Ned Segal said in a press release.
Source Fool.com
