The world may be discovering just how many tweets it needs.
On Tuesday, Twitter released results for its third quarter that revealed what Wall Street analysts already knew: The San Francisco companyâs revenues are still growing at a healthy though not particularly profitable clip, but persuading more people to use the social media service is proving difficult.
The future challenges of revenue growth were also driven home by the companyâs disappointing forecast for its fourth quarter. Twitter warned that revenue would be $ 695 million to $ 710 million, well below the $ 740 million that Wall Street had been expecting, according to S&P Capital IQ data.
At the other end of the tech spectrum, Appleâs most recent quarter also beat Wall Street expectations.
Still, the world’s most valuable company â which tends to undersell whatâs ahead â issued a forecast for the current quarter that could raise eyebrows among investors. Apple said revenue would be $ 75.5 billion to $ 77.5 billion. That would be up from $ 74.6 billion a year earlier but below Wall Street estimates of $ 77 billion at the low end.
No doubt, those are gigantic numbers. But that tame (by Apple standards) forecast could be an early indication that Apple is starting to learn just how many iPhones the world needs.