Despite stronger advertising revenue, Twitter posted an RM2.22bil net loss after settling a lawsuit that alleged investors were misled about slowing user growth. — AFP
Twitter said Tuesday it had posted a US$537mil (RM2.22bil) net loss in the third quarter after settling a lawsuit alleging investors were misled about slowing user growth.
Despite revenue rising sharply with the help of robust ad sales, Twitter still posted an operating loss of US$743mil (RM3.08bil), fuelled by the more than US$800mil (RM3.31bil) settlement.
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