Twitter expects first-quarter revenue to decline slightly from the $787 million it reported a year earlier and withdrew guidance for the quarter and the year
Twitter Inc. withdrew its financial guidance citing the coronavirus pandemic and warned that it expects to report an operating loss for the March quarter.
The company said Monday it expects first-quarter revenue to decline slightly from the $787 million it reported a year earlier and withdrew guidance for the quarter and the year. Last month, in its most recent earnings report, Twitter had projected an operating profit of up to $30 million on $825 million to $885 million in revenue. It had estimated $775 million to $825 million in capital expenditures for the year along with $425 million to $475 million in stock-based compensation.
"Twitter's purpose is to serve the public conversation, and in these trying times our work has never been more critical," Chief Executive Jack Dorsey said in a statement, adding that company officials had seen "a meaningful increase in people using Twitter."
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