Shareholder Pain Drags Into Second Day As Twitter Slide Continues
SAN FRANCISCO (KCBS) - It's a tale of two earnings reports Wednesday.
Twitter (TWTR) is falling even further after diving 18% Tuesday when its earnings were leaked before the closing bell, and the company came up short in revenue expectations, and offered weak guidance for the current quarter.
Twitter's shares fell 18-percent, and were down nearly 6 percent percent more Thursday.
Despite the earnings miss, revenue were up 74-percent to $436-million. The company's user base also grew 14-percent from the prior quarter to 302 million.
Twitter CEO Dick Costolo blamed the poor quarter on lower than expected results from some of the company's newer ad products.
It shaping up to be a much better day ahead for GoPro (GPRO), which topped expectations on a revenue gain of 54.1% to $363-million.
To give an idea of how popular the San Mateo firm's action cameras are becoming, its YouTube channel witnessed a 93-percent gain in published videos.
GoPro also announced its buying French software developer Kolor, which specializes in panoramas and 360-degree videos, something GoPro says is an essential building block of virtual reality.
GoPro shares were cruising higher on the results.