tumbles

Twitter Tumbles As ‘Bugs’ Hit Their Revenue Growth

Twitter Tumbles As ‘Bugs’ Hit Their Revenue Growth

Twitter shares plunged Thursday after reporting glitches that impacted its ad-targeting ability, pulling down revenue growth in the past quarter.Profit for the third quarter was $37 million, a sharp drop from last year when the online messaging platform was helped by a large tax benefit.

Revenue rose nine percent from a year earlier to $824 million, well below analyst forecasts, impacted by what the company called “revenue product issues.”

Shares in Twitter slid as much as 20 percent in pre-market trade on the disappointing results.

Twitter said revenue was hit by “bugs” which made it harder to deliver targeted