Twitter warns U.S. election could affect ad sales, shares drop 16%

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By Sheila Dang
(Reuters) - Twitter Inc <TWTR.N> on Thursday added fewer users than Wall Street had expected and said a rise in expenses would accelerate in the fourth quarter, sending its shares tumbling 16%.
The San Francisco-based social media company said it expected expenses to increase by close to 20% in the fourth quarter compared with a year ago due to an increase in investments.
The company also cautioned that it was hard to predict how advertisers would react as the U.S. presidential election nears on Nov. 3.
Shares of Twitter fell to $44.00 in after-market trading.
Twitter said many companies paused ad spending during the second quarter due to widespread protests after the death of George Floyd in May ...


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