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SAN FRANCISCO -- Twitter beat Wall Street's sales and profit forecasts, but shares fell 13% in after-hours trading on growth concerns.
Share of Twitter plummeted 13%, at $57.02, in after-hours trading on the news. Twitter reported monthly active users came in at 241 million, a 30% year-over-year increase but well below expectations.
The company, based here, reported $9.8 million in net income, or $0.02 per share, on $243 million in revenue.
Twitter was expected to report a loss of $13 million in net income on $218 million in revenue in the quarter, according to the survey of estimates from Thomson Reuters. Analysts were predicting a loss of $0.02 per share.
Shares of Twitter have seen a 47% run-up in trading since the company went public November 7.
USA NOW
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