Twitter slips to loss in second quarter as results miss estimates

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DPA

Hurt by a decline in revenues and a surge in costs and expenses, social media giant Twitter on Friday reported a net loss for the second quarter compared to last year’s profit. The results also undershot analysts’ expectations. For the second quarter, California-based Twitter reported a net loss of $270.01 million or $0.35 per share, compared to net income of $65.6 million or $0.08 per share in the prior-year quarter. Adjusted net loss for the quarter was $0.08 per share, compared to adjusted net income of $0.20 per share in the same quarter a year ago. On average, 16 analysts polled by Thomso…

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