Hurt by technical issues and unusually low demand, Twitter Inc has posted very low quarterly revenue and profit. The tech glitches have hurt its advertising, resulting in its shares tumbling by 20%. Earlier, the efforts the platform put into cleaning up abusive content, have driven increased usage, since they were designed to address long term privacy and abusive content concerns. The brand has also rolled out new video ad products that are contributing to its popularity, but while it’s revenue rose 9% from a year earlier, it fell short of Wall Street expectations. The biggest problem was a major, unexpected issue even as the holiday buying season starts.
Following this decrease, Twitter has cut its fourth-quarter revenue forecast to below Wall Street estimates.
