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Shares of Twitter (NYSE:TWTR) are down more than 2% after the company missed expectations for revenue for the second quarter.
The company reported an adjusted loss per share of 8c, down from EPS of 20c in the year-ago quarter, and worse than the analyst estimate of $0.15.
The social media company reported $1.18 billion in revenue, missing the consensus estimates of $1.32 billion. Advertising revenue stood at $1.08 billion, also below the consensus projection of $1.23 billion. Twitter reported subscription and other revenue of $100.7 million, while analysts were expecting $96.2 million.
The number of average monetizable daily active users (DAUs) stood at 237.8 million in Q2, slightly above the expected 237.5 million.
Twitter did not host an earnings conference call nor provide guidance. The company reported $33 million in costs related to its pending deal with Elon Musk.
