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Photo: Richard Drew / AP

Twitter stock was up over 10% in pre-market trading Thursday after the company announced that it beat revenue and growth expectations. But the success is being overshadowed by the fact that the company admitted to inflating user growth over by approximately 1-2 million users per quarter for four quarters. The company said in a letter to shareholders that the miscalculation occurred from including "certain third-party applications" that should not have been counted in Twitter's monthly active users number.

Why it matters: Twitter has faced criticism in the past for inflating video metrics and for its "inadequate" response (Sen. Mark Warner's words) to the Senate Intelligence Community's inquiry into Russia involvement on its platform. At a time when technology platforms are under increased scrutiny for not being transparent enough, this type of admission only plays into the narrative that tech companies are not properly policing themselves.

Other key figures.

  • Revenue: Twitter surpassed revenue expectations for Q3, reporting a 4.2% decline in revenue to $590 million, which is slightly better than the losses that were expected.
  • Users: It increased its Daily Active User (DAU) base 14% year-over-year in Q3 and 4 million Monthly Active Users (MAUs) in Q3, bringing its total monthly active user count to 330 million.
  • Losses: Twitter reported a loss of $21.1 million, the smallest loss that Twitter has posted since going public.
  • Profit: Twitter raised its earnings forecast for the fourth quarter next year and said if it hits the high end of that number, it could achieve its first-ever profitable quarter since going public — a huge feat for the company facing pressure to compete for advertising revenue against its main competitors, Facebook, Instagram and Snapchat.
  • Market growth: Twitter said the majority of its growth came from its top 10 global markets, including the U.S., which have a greater potential to generate advertising revenue.

Clarification: This post has been updated to reflect that the inaccurate MAU numbers were counted over four quarters, not 11.

Go deeper

28 U.S. citizens depart Afghanistan on Qatar Airways flight

Passengers board a Qatar Airways aircraft bound to Qatar at the airport in Kabul on September 10, 2021. Photo: Aamir Qureshi/AFP via Getty Images

The State Department on Saturday confirmed that a Qatar Airways charter flight left Kabul on Friday with 28 U.S. citizens and seven lawful permanent residents on board.

The big picture: Friday's flight is the third such airlift by Qatar Airways since the Taliban takeover of Afghanistan, AP reports.

Updated 2 hours ago - Politics & Policy

Smaller than expected "Justice for J6" rally met with large police presence

Police officers watch as demonstrators gather for the "Justice for J6" rally in Washington, D.C., on Sept. 18, 2021. Photo: Andrew Caballero-Reynolds/AFP via Getty Images

A few hundred demonstrators were met by a heavy law enforcement presence on Saturday at the "Justice for J6" rally outside the fenced-off U.S. Capitol, AP reports.

The latest: Four people were arrested at the rally, including one person with a gun, one with a knife and two with outstanding warrants, per the U.S. Capitol Police.

DHS to increase deportation flights to Haiti from Del Rio

Migrants walk across the Rio Grande River carrying supplies back to a makeshift encampment under the international bridge between Del Rio, Texas, and Acuña, Mexico. Officials are struggling to provide food, water, shelter and sanitation, forcing migrants to cross the Rio Grande several times per day for basic necessities. Photo: Jordan Vonderhaar via Getty Images

The Department of Homeland Security on Saturday announced plans to ramp up deportation flights to Haiti out of the small Texas border town Del Rio, starting as soon as Sunday.

Why it matters: Reports have emerged of more than 10,000 migrants, primarily from Haiti, crowded in a temporary camp under the international bridge in Del Rio. Hoping to find refuge in the United States, they've had to bear with filthy conditions and the scorching sun for days, per an NBC News affiliate.

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