Twitter beats on revenue and earnings but confirms layoffs

Jack dorseyDrew Angerer/Getty ImagesTwitter CEO Jack Dorsey.

Twitter beat analysts’ expectations on both revenue and EPS in its third quarter but confirmed it plans to lay off 9% of its workforce.

Here are the key numbers from Twitter’s Q3 earnings:

Q3 revenue: $616 million — versus $605.84 million expected by analysts.

Q3 EPS (adjusted): $0.13 — versus $0.09 expected by analysts.

Q3 monthly active users: 317 million

Q3 revenue guidance: — versus $753.47 million expected by analysts.

Twitter announced its earnings at the unusual time of 4 a.m Pacific Time before the market opened. Usually, tech firms based on the West Coast post their results after the market close.

The company said in press release earlier this week the rescheduling was “in response to analyst requests, to avoid overlapping with several other earnings announcements in the Internet sector scheduled for Thursday afternoon.” Google and Amazon will report their earnings later on Thursday.

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