Twitter Stock Crashes $1.6B After Cash Flow Plunges
After booting Breitbart Tech editor Milo Yiannopoulos — possibly the worst blunder in social media history — and alienating his 400,000 followers, Twitter announced that its user growth is dead, and that its cash flow estimate was cut by $80 million for the latest quarter.
Twitter’s stock market valuation [TWTR:NYSE] tanked by $1.6 billion in after-hour trading immediately after the company told Wall Street analysts that, despite “monthly-active-user” (MAU) numbers up by 1 million to 312 million, the company cut its third-quarter cash flow estimate from $681.4 million to between $590 and $610 million.
Until June 2015, Twitter was the Internet’s third-largest social media site. Twitter’s CEO Dick Costolo was deeply loved by company employees, and highly respected by the social media community for not muzzling free speech. – READ MORE