Twitter Profit Tops Estimates, Cuts FY Revenue Guidance; Stock Down 18%

(RTTNews) - Twitter Inc (TWTR) on Tuesday reported first-quarter net loss of $162.4 million or $0.25 per share compared with a loss of $132.4 million or $0.23 per share last year.

Excluding items, adjusted earnings for the quarter were $0.07 per share compared with $0.00 per share a year ago.

Revenues for the quarter were $436 million compared with $250.5 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.04 per share on revenues of $456.8 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, the company expects revenues of $470 million to $485 million, while analysts expect $538.2 million.

For the full year 2015, the company now expects revenues of $2.17 billion to $2.27 billion, down from prior guidance of $2.30 billion to $2.35 billion

Analysts expect revenues of $2.37 billion for the year.