BUSINESS

Twitter Gets Income Squeeze

Twitter’s payout of $809.5 million to settle a long-running lawsuit impacted negatively on its bottom line in its quarterly report ending September.

The social media firm was accused of misleading investors over user engagement in 2015.

Despite this one-off charge, its quarterly revenue grew 37 percent as it managed to shrug off the impact from Apple’s privacy changes which hit rivals such as Snap and Facebook.

This sent Twitter’s shares up three percent.

Readers Bureau, Contributor

Edited by Jesus Chan

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