Stock Price Rises as Twitter Slashes Jobs, Uproots Vine

Twitter shares were up Friday in the aftermath of the company’s report of third-quarter earnings that beat Wall Street estimates, despite declining revenue growth. Twitter also announced a widely expected round of job cuts and the unexpected shutdown of Vine. Twitter has been on financial oxygen in recent weeks, after failing to find a buyer. Investors responded positively to the news that it will slash 9 percent of its workforce, or about 350 employees. Further, the company reported an 8 percent profit increase from year-ago figures.

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