Twitter's ad business is slumping and it missed Wall Street's earnings estimates - Recode

More tumultuous times for Twitter

"Twitter’s didn’t finish 2016 as well as investors hoped it would.

The company missed Wall Street’s revenue estimates Thursday, reporting $717 million in revenue for the fourth quarter, just a 1 percent gain from the same quarter a year ago. It reported profits of 16 cents per share, which was higher than analysts expected.

Twitter also added 2 million new users in the quarter, and now claims 319 million monthly active users.

Wall Street analysts were looking for profits of 12 cents per share on revenue of $740 million. They also expected Twitter to report user growth of roughly 2 to 3 million new users last quarter. The shares plummeted 9 percent in pre-market trading."

Twitter's ad business is slumping and it missed Wall Street's earnings estimates - Recode