Social media platform reports ‘headwinds’ as near-20% hike in costs dents profits
Twitter shares slumped in pre-market trading after the social network reported lower than expected revenues and higher costs and said it expected revenue “headwinds” to continue to drag on profits.
Shares fell by almost 20% in pre-market trading to below $31.30, the lowest since March.
Read More Twitter shares slump as revenues dip and costs rise