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Twitter Stock Plunges as Quarterly Sales and Forecast Disappoint Wall Street

  • ‘Product issues’ weigh on performance of advertising business
  • Daily active users up 4% to 145 million from previous quarter
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Twitter CFO Says Advertiser Sentiment Remains Strong
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Twitter Inc. plunged the most in more than a year after reporting quarterly results that fell far short of Wall Street’s estimates, and saying privacy issues involving its advertising business will continue to weigh on performance.

Third-quarter sales increased 8.6% to $823.7 million, well short of the $876 million analysts estimated. Sales in the period ending in December will be $940 million to $1.01 billion, the San Francisco-based company said Thursday in a statement. Analysts projected $1.06 billion.