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Twitter cuts revenue forecast, shares slump

April 28, 2015 admin alibaba-group, chief-financial, down-as-much, global, jingyitong, officer-anthony, shown-at-its, street, the-official, tuesday-twitter, twitter, use-phones

Twitter Inc reported quarterly revenue that fell short of Wall Street estimates and cut its full-year forecast because of weak demand for its new direct response advertising, sending shares down as much as 24 percent on Tuesday. Twitter forecast 2015 revenue of $2.17 billion to $2.27 billion, down from its earlier forecast of $2.3 billion to $2.35 billion.