Twitter to Cut 9% of Workforce as Revenue Growth Slows – WSJ

Twitter Inc. posted another quarter of slowing revenue growth Thursday and said it would slash 9% of its global workforce, in its first report since recent takeover interest from potential suitors including Salesforce.com Inc. dissipated.

The social-media company’s revenue rose 8.2% to $615.9 million, its smallest gain and ninth straight period of slowing growth. Analysts expected revenue of $606 million.

Twitter recorded a loss of $102.9 million, or 15 cents per share. Excluding certain expenses such as stock-based compensation costs, Twitter posted a profit of 13 cents a share, compared with the average analyst estimate of 9 cents per share

Source: Twitter to Cut 9% of Workforce as Revenue Growth Slows – WSJ