Twitter Meets Q3 Views, Revenue Outlook Is Light

Twitter Inc TWTR met Wall Street's earnings expectations Monday even as it reported a sharply wider third-quarter net loss.

Twitter fell more than 10 percent extended session to $43.70 per share.

The San Francisco-based social media company forecast fourth-quarter revenue of $440 million to $450 million, versus analysts' expectation of $448 million.

For the full year, Twitter expects revenue of $1.37 billion to $1.38 billion, compared with the Street view of $1.36 billion.

In the recent period, Twitter's user base grew 23 percent to 284 million, while mobile use represented 80 percent of the total.

Advertising revenue more than doubled to $320 million, and 85 percent of total advertising revenue stemmed from mobile use.

The company's net loss widened to $175 million, or $0.29 per share, from $65 million, or $0.48 per share in the year-earlier period on fewer shares outstanding.

Adjusted third-quarter earnings equaled $0.01 per share, compared with a loss of $0.13 per share last year, while revenue more than doubled to $361 million, from $169 million last year.

Wall Street expected adjusted earnings of $0.01 per share on revenue of $351.35 million.

The company posted $68.33 million in adjusted earnings before taxes, interest and depreciation and amortization, versus $9.29 million a year earlier.