Why Twitter Stock Crashed 8.5% Today
Investors dumped shares of Twitter (NYSE: TWTR) for an 8.5% loss through 12:30 p.m. EDT after the social media star reported a surprise "adjusted" loss for its fiscal Q3 2021 -- where investors had expected a profit. Heading into Q3, analysts had forecast that Twitter would earn a pro forma profit of at least $0.15 for the quarter on sales of $1.28 billion. As it turned out, Twitter nailed that revenue forecast -- but instead of a profit, it reported a $0.54-per-share "adjusted" loss.
