Twitter post solid Q1 results but outlook sinks stock

by: BARBARA ORTUTAY, Associated Press Posted: Apr 29, 2021 / 03:31 PM CDT / Updated: Apr 29, 2021 / 04:26 PM CDT FILE – In this Feb. 8, 2018, file photo, the logo for Twitter is displayed above a trading post on the floor of the New York Stock Exchange. Like its bigger tech peers, Twitter posted stronger-than-expected results for the first quarter on Thursday, April 29, 2021. But its lukewarm revenue outlook sent shares tumbling after hours. The San Francisco-based company earned $68 million, or 8 cents per share, in the January-March period. (AP Photo/Richard Drew, File) Like its bigger tech peers, Twitter posted stronger-than-expected results for the first quarter on Thursday. But its lukewarm outlook sent shares tumbling after hours. The San Francisco-based company earned $68 million, or 8 cents per share, in the January-March period. That’s up from a loss of $8.4 million, or 1 cent per share, a year earlier. Revenue grew 28% to $1.04 billion. Analysts, on average, were expecting a loss of 2 cents per share on revenue of $1.03 billion, according to a poll by FactSet. In a tumultuous start to the year, Twitter permanently suspended its arguably most powerful and polarizing user…
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