Twitter Inc. (TWTR) on Thursday reported a loss of $102.9 million in its third quarter.

On a per-share basis, the San Francisco-based company said it had a loss of 15 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 13 cents per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The short messaging service posted revenue of $615.9 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $605.7 million.

Twitter shares have decreased 25 percent since the beginning of the year. The stock has declined 44 percent in the last 12 months.

--Associated Press

Published on: Oct 27, 2016