Twitter forecast to report R2.7bn loss

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TwitterBird REUTERS

San Francisco - Twitter Inc. said it will take investor and analyst questions through its microblogging service when it reports its first quarterly results as a public company on February 5.

The San Francisco-based company said in a statement yesterday that it will answer questions about its fourth-quarter financial results using Twitter during the investor call.

Questions must be sent to Twitter’s investor relations account, @TwitterIR, using the hashtag #TWTRearnings, the company said.

The company, whose service acts as a global megaphone for celebrities, politicians, individuals and more, went public on November 6 at $26 a share.

Since then, the stock has more than doubled, falling 7.3 percent to $61.46 at the close in New York yesterday.

Netflix last year got clearance from US regulators to start posting financial information for investors on social media.

Companies can use Facebook and Twitter to broadcast news as long as investors are notified first, the US Securities and Exchange Commission has said.

Investors are betting that Twitter, which is unprofitable and generates revenue through digital advertising, can grow its user base in international markets and target people more effectively with ads, especially on mobile devices.

Analysts are anticipating that Twitter will post sales of $217.4 million (R2.3 billion) for the fourth quarter and a net loss of $255.1 million, according to the average of estimates compiled by Bloomberg. - Bloomberg News

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