Twitter Is Approaching Profitability for the First Time After Exceeding Q3 Expectations

The site gained 4 million users, but overall ad revenue is down

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Twitter’s third-quarter earnings, which beat analysts’ expectations both in terms of total user growth and earnings per share, signal good news for investors: If the company hits its fourth-quarter guidance, it could be profitable for the first time.

Investors reacted positively to Twitter’s third-quarter earnings as shares are trading higher this morning after the results were released, crossing the $19 mark for the first time since July, when shares traded around $20.

“This quarter we made progress in three key areas of our business: we grew our audience and engagement, made progress on a return to revenue growth, and achieved record profitability,” Twitter CEO Jack Dorsey said in a statement.

Twitter gained another 4 million users in the third quarter, bringing the platform’s total to 330 million.




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