Twitter’s third-quarter earnings fall due to a few added users

On Thursday, Twitter Inc. (TWTR.N) reported that it added fewer users than Wall Street had expected.

The American social networking company stated that the rise in its expenses would accelerate in the fourth quarter.

Twitter said that it expects shares to fall by 16%.

Its advertising revenue in the third quarter climbed by 15% to $808 Million last year, surpassing estimates of $645.95 Million.

“When advertisers do choose to pause or slow down because there is a more important discussion happening on our service, when they come back they often spend through that budget that they had set aside for Twitter because their objectives and their reach goals haven’t changed,” Twitter’s Chief Financial Officer Ned Segal stated.

According to Refinitiv’s IBES data, Twitter had 187 Million monetizable daily active users (mDAU) during the third quarter, beating analysts’ expectations of 195.2 Million users.

Twitter’s shares fell to $44.00 in after-market trading on Thursday.