Twitter Reports Fourth Quarter Loss of $90 Million

SAN FRANCISCO (AP)–Twitter Inc. (TWTR) on Wednesday reported a loss of $90.2 million in its fourth quarter.

The San Francisco-based company said it had a loss of 13 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 16 cents per share.

The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The short messaging service posted revenue of $710.5 million in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $709.2 million.

For the current quarter ending in April, Twitter said it expects revenue in the range of $595 million to $610 million. Analysts surveyed by Zacks had expected revenue of $629.6 million.

Twitter shares have declined 35 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $14.98, a fall of 68 percent in the last 12 months.

–Associated Press

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