Twitter Plummets After Hours Following First-Ever Earnings Report -->
Twitter had experienced a run-up the last three months leading up to its first quarterly statement, gaining over 150 percent in value since its November IPO. As is the problem with many a red-hot tech property, Twitter's valuation had ceased to be tied to any conceivable fundamental metric, causing what many had argued, and what has appeared to be, a bubble. The only question now is how large that bubble turns out to have been.
Twitter's stock price had long been built on "the promise of future business," as Rapid Ratings CEO
While Twitter beat revenue estimates by 12 percent, and experienced a 30 percent surge in monthly users, the earnings loss was far too much to offset any positive news.
As opposed to
Twitter reported a net loss of
After dropping as much as 16 percent after hours, Twitter's stock bounced back slightly, and thirty minutes after the bell was down 12.04 percent to hit
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