The shares of the American Twitter microblogs service collapsed by 20.8% to $ 30.7 per paper, according to the New York Exchange. The capitalization of the company fell by almost $ 6 billion.

The fall in the quotations occurred after the publication of the financial statements of Twitter following the results of the III quarter. The company reported an increase in revenue by 8.7% to $ 823.7 million, however, analysts expected revenue at $ 876 million. Twitter reduced the forecast for revenue by the 4th quarter to $ 940 million, while analysts predicted $ 1.06 billion.
Net profit in the quarter also did not live up to expectations. The indicator fell 21.6 times - up to $ 36.5 million.
The company explained unsuccessful indicators by the fact that in the 3rd quarter the service was faced with problems in the system for promoting advertisements, and this reduced advertising income.
We are talking about a long-term problem, CNBCemphasizes : the platform closed some possibilities for targeting advertising due to possible violations with the transfer of users data to a third party, and this reduced the attractiveness of Twitter for advertisers.
“Despite the difficulties, the result of the quarter confirms the effectiveness of our investment strategy in long -term growth,” said Twitter Cigal Findyctor.

Stocks of the American service