Twitter reported growth in quarterly revenue. But the company's shares still fell by 20%

Shares of Twitter fell more than 20% on the New York Stock Exchange. This is evidenced by data from the Yahoo Finance service.

At 11:00 pm Moscow time, Twitter shares traded at $30.8 a share. The previous auction closed at $38.8.

On October 24, Twitter released a report on the company's financial results for the third quarter of 2019. Compared to the same period last year, profit fell from $789 million to $37 million, while revenue rose from $758 million to $824 million. At the same time, analysts expected to see revenue at the level of 876 million, writes Bloomberg.

Twitter management attributed the company's financial results to errors made when placing ads, notes . CNBC