Twitter's stock plunges on revenue miss

Twitter's stock is tanking after the internet company reported Q1 revenue that missed Wall Street targets and offered a forecast for the current quarter that was far below expectations.

Here are the key numbers:

• Q1 Revenue: $595 million, up 36% year-on-year, and below the average analyst expectation of $607.8 million.
• EPS (adjusted): 15 cents, versus the average analyst expectation of 10 cents
• Q2 Revenue guidance: $590 million to $610 million, compared to the average analyst expectation of $677.6 million.

Twitter's stock is down more than 8% at $16.14 in after-hours trading.

Twitter said that Q1 revenue came in at the low end of its forecast because brand marketers who advertise on its social network "did not increase spend as quickly as expected."

Meanwhile, Twitter's monthly users continued to grow at an anemic pace during the first three months of the year. Here's a chart that Twitter provided showing its user growth:

As the chart shows, Twitte'rs audience of monthly users has basically stagnated for the past year, even as rivals such as Facebook, Instagram and Snapchat are growing fast.

The social networking company has been struggling to revive its fortunes under the stewardship of co-founder Jack Dorsey, who took the CEO reins last year.

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