You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • 19 deaths tied to ignitions
    DETROIT – The death toll tied to faulty ignition switches in General Motors small cars has risen to 19, according to a compensation expert hired by the company.
  • Breadstick policy seen as generous
    Olive Garden is defending its practice of giving customers as many breadsticks as they want, saying the policy conveys “Italian generosity.
  • Industrial output slips in August
    WASHINGTON – U.S. manufacturing output declined in August for the first time in seven months, reflecting a sharp fall in production at auto plants that was due mainly to seasonal adjustment problems.
Advertisement

Twitter 2Q results soar, stock flies high

– Stronger-than-expected results pushed Twitter’s stock sharply higher on Tuesday after the short messaging service said its revenue more than doubled in the second quarter.

The San Francisco-based company’s stock jumped 29.6 percent to $50.01 in extended trading after the results came out.

Twitter posted a net loss of $144.6 million, or 24 cents per share, in the April-June period. That compares with a loss of $42.2 million, or 32 cents per share, a year earlier when Twitter was still a private company.

Adjusted earnings were 2 cents per share in the latest quarter, beating analysts’ expectations of a loss of 1 cent, according to FactSet.

Revenue was $312.2 million, up from $139.3 million.

Analysts polled by FactSet were expecting revenue of $283.3 million.

Average monthly users were 271 million as of the end of June, up 24 percent from a year earlier and up 6 percent from the end of March.

Mobile advertising revenue was $224 million, or 81 percent of the quarter’s total ad revenue. In the first quarter, mobile ad revenue amounted to about 80 percent of total ad revenue.

Twitter went public last November, setting a price of $26 per share for its stock, which then soared amid hungry investor demand. The stock peaked in December at $74.73 and then declined sharply.

Advertisement