“Twitter Inc. posted another quarter of slowing revenue growth Thursday and said it would slash 9% of its global workforce, in its first report since recent takeover interest from potential suitors including Salesforce.com Inc. dissipated,” Deepa Seetharaman reports for MarketWatch.

“The social-media company’s revenue rose 8.2% to $569.2 million, its smallest gain and ninth straight period of declining growth,” Seetharaman reports. “Analysts expected revenue of $606 million.”

“Twitter recorded a loss of $102.9 million, or 15 cents per share. Excluding certain expenses such as stock-based compensation costs, Twitter posted a profit of 13 cents a share, compared with the average analyst estimate of 9 cents per share,” Seetharaman reports. “Twitter’s monthly active users totaled 317 million in the third quarter, up just 1.7% from the second quarter.”

Read more in the full article here.

“Twitter is pulling the plug on its six-second video platform Vine,” Eli Blumenthal reports of USA Today. “As struggles continue to grow for the popular but flailing social network, the company announced Thursday afternoon that the video service would be shut down ‘in the coming months.'”

“No exact timeline was given for when the service would end, though Twitter will be keeping the site and its content online ‘because we think it’s important to still be able to watch all the incredible Vines that have been made,'” Blumenthal reports. “Rus Yusupov, founder of Vine, expressed his thoughts on Twitter with four words: ‘Don’t sell your company!'”

Blumenthal reports, “Yusupov sold Vine to Twitter for a reported $30 million in October 2012 before the service had even launched to the public.”

Read more in the full article here.

MacDailyNews Take: Must have been a fun day for the Twitter folks presenting at Apple’s special event today.

Good luck to all those affected.

Vine, we hardly knew ya.

SEE ALSO:
Twitter shares tumble as last suitor Salesforce rules out bid – October 14, 2016
Twitter suspends 235,000 more accounts over extremism – August 18, 2016
Former Apple PR exec Natalie Kerris leaves Twitter after only six months – August 2, 2016