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Twitter withdraws first-quarter revenue forecast on virus fears – Source Reuters Tech News

FILE PHOTO: The Twitter logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2016. REUTERS/Brendan McDermid/File Photo

(Reuters) – Twitter Inc said on Monday it is withdrawing its revenue and operating income forecast for the first quarter, citing the growing impact of the coronavirus outbreak.

“Based on current visibility, the company expects Q1 revenue to be down slightly on a year-over-year basis,” it said.

The company had earlier estimated first-quarter revenue of $825 million to $885 million.

Global conversation about the virus and product improvements are driving strength in total monetisable daily active users (mDAU), the micro-blogging platform said.

Quarter-to-date average total mDAU reached about 164 million, up 23% from 134 million in the first quarter of 2019, the company said.

Reporting by Munsif Vengattil in Bengaluru; Editing by Maju Samuel

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