Twitter blames weak sales on lackluster ads, drops forecast
Twitter failed to meet revenue estimates for the first quarter, and is lowering its expectations for the rest of the year, due to weaker than expected performance of some of its ads products, the company said Tuesday.Total sales for the period that ended March 31 were $436 million, Twitter reported, up 74 percent from the previous year. Analysts, however, were expecting sales of roughly $457 million, according to estimates compiled by Thomson Financial Network.The company’s stock plummeted by nearly 20 percent toward the end of trading on Tuesday, to around $42. Twitter typically publishes financial data after markets close, but they appeared online, apparently in error, during the trading session.To read this article in full or to leave a comment, please click here