(Reuters) – Twitter on Thursday reported a smaller-than-expected increase in user numbers, and warned that spending spikes would pick up in the fourth quarter, pushing the stock down 16%.
The social network announced to estimate the increase in its expenses at nearly 20% in the fourth quarter compared to the previous year, in particular because of an increase in its investments.
Twitter also said it was difficult for it to predict the reaction of advertisers in the run-up to the US presidential election on November 3.
The average number of daily active users likely to be targeted by advertising was 187 million, below the 195.2 million forecast by analysts.
The group’s overall turnover over the period stood at $ 936 million (802 million euros), up 14% over one year.
(Sheila Dang; French version Camille Raynaud)