Sometimes things happen unexpectedly. Thus, shares of Twitter fell by nearly 20% to $31.45 apiece at the start of a trading session. Remarkably, the company managed to offset part of the losses. Twitter market value lost $6-7 billion in 20 minutes. The decline in share prices was accompanied by a twofold increase in the volume of transactions with Twitter securities compared to the average value for previous days. However, this is a successful year for the company. The value of its shares has jumped by 35% since the beginning of the year. The reason for such a steep downfall was the Twitter financial statements publication for the third quarter of 2019. The network’s profit did not live up to Wall Street forecasts for the first time since 2016. Twitter’s quarterly earnings increased by 9% to $824 million from $758.1 million for the same period of 2018. Experts surveyed by Bloomberg expected the indicator to grow to $876 million. The number of active network users rose by 4.3% in the third quarter to 145 million people per month, and by 17% on a year-to-year basis. "The 9% revenue growth reflects the September growth in the US, as well as a number of obstacles, including problems with revenue and advertising seasonality in July and August. Revenue is lower than expected, but there are no significant changes in our current investments," the company said in a statement. However, there is no reason to fall into despair. “Despite the difficulties, this quarter confirms the effectiveness of our investment strategy,” said Twitter CFO Ned Segal.
