Twitter Reveals Q3 2016 Financial Results, Will Reduce Workforce by 9%
Twitter released its Q3 2016 financial results Thursday, and it also announced it will reduce its workforce by approximately nine percent.
Twitter released its Q3 2016 financial results Thursday, and it also announced it will reduce its workforce by approximately nine percent.
For the third quarter of fiscal year 2016, Twitter saw revenue of $616 million, which is an increase of eight percent year-over-year. Advertising revenue for the quarter was $545 million, which is an increase of six percent year-over-year. Twitter’s generally accepted accounting principles (GAAP) net loss was $103 million for the quarter.
In terms of users, Twitter said it had 317 million average monthly active users (MAU) in the third quarter, which is an increase of three percent year-over-year, and an increase from 313 million MAU in Q2 2016. Twitter
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