Twitter Earnings: 1Q Adj. EPS 15c; Est. 10c
Twitter Inc. drew more users last quarter after a lull, but not quickly enough to lure greater spending from some major brand advertisers. The results sent shares tumbling the most intraday in eight months.
The company forecast second-quarter revenue that will fall far short of analysts’ estimates. That’s even as Twitter added 5 million monthly active users in the first quarter, for a total of 310 million. Analysts projected 308 million.