Twitter Overstated Number of Users for Three Years

THE WALL STREET JOURNAL – GEORGIA WELLS/PHOTO CREDIT: FLICKR

Twitter Inc. on Thursday said it overstated its number of users for the past three years and committed to take advertising off its site from two Russian media outlets, even as it reported modest user growth for the third quarter.

Even so, the social-media company’s shares jumped nearly 14% in early trading after it reported a narrower loss in the third quarter and raised its earnings forecast for the fourth quarter.

Twitter said it will no longer accept advertising from all accounts owned by Russian-backed news outlets RT and Sputnik. Federal intelligence officials say RT is “the Kremlin’s principal international propaganda outlet.”

Read more at The Wall Street Journal

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