Twitter pulls first quarter guidance due to coronavirus

Twitter CEO and co-founder Jack Dorsey gestures though interacting with students at the Indian Institute of Engineering (IIT) in New Delhi on November 12, 2018.

Prakash Singh | AFP | Getty Images

Twitter on Monday pulled its initial quarter steerage owing to the rising influence of the COVID-19 pandemic. 

“Whilst the close to-term monetary effects of this pandemic is promptly evolving and challenging to evaluate, primarily based on present-day visibility, the enterprise expects Q1 income to be down a little on a yr-over-calendar year basis,” the business mentioned in a press launch. “Twitter also expects to incur a GAAP working loss, as diminished costs ensuing from COVID-19 disruption are not likely to totally offset the income influence of the pandemic in Q1.”

Twitter mentioned it will offer an update on its initial quarter 2020 earnings call on April 30. 

This story is acquiring. 

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