Twitter shares surged by over 7 per cent to close at $17.61 on Wednesday following a rumour saying that former Microsoft chief executive Steve Ballmer was buying the micro-blogging website
New York: Twitter shares surged by over 7 per cent to close at $17.61 on Wednesday following a rumour saying that former Microsoft chief executive Steve Ballmer was buying the micro-blogging website.
There were multiple reports, saying that Ballmer and Saudi Arabia's Prince Al-Waleed bin Talal were getting ready with a bid to buy Twitter.
ADVERTISEMENT
Last year, Ballmer announced that he had acquired 4 per cent stake in Twitter which has market cap of nearly $12 billion, SiliconBeat reported on Thursday.
Twitter was yet to respond to the rumour.
Earlier, although it added three million users -- one million more that what analysts had expected -- the not-so-promising second quarter earnings results led to the shares of micro-blogging website Twitter tumbling.
The company posted quarterly revenue of $602 million, up 20 per cent year-over-year and reported $107 million GAAP net loss ($0.15 per share) with quarterly non-GAAP net income of $93 million ($0.13 per share).
A year ago, the year-over-year growth was 61 per cent and two years back, it was a whopping 124 per cent.
The average monthly active users (MAUs) were 313 million for the quarter, up 3 per cent compared to 310 million in the previous quarter.
The micro-blogging website was now looking at the video and news streaming space to revive its fortunes.
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
