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Earnings Results: Twitter shares slide 19% after fake-account purge and amid new rules in Europe

Investors pummeled Twitter Inc.’s stock in Friday trading, sending shares down 19%, as the company reported that user growth had turned negative, even as its quarterly results beat Wall Street expectations on the top and bottom lines.

Twitter shares TWTR, -18.71% were down 19% in afternoon trades. Before Friday’s losses, the stock had gained roughly 80% this year, while the S&P 500 index SPX, -0.68% has climbed 6.1%.

The social network posted a profit for the third consecutive quarter, with its $134 million in net income equating to 13 cents a share. Adjusted per-share earnings came to 17 cents.

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