Twitter on Monday withdrew its revenue and operating income forecasts for the first quarter of 2020 amid the coronavirus pandemic.
The social media giant also retracted its outlook for expenses, stock-based compensation, headcount and capital expenditures for the full fiscal year "due to the growing impact of COVID-19 on the global operating and economic environment and their effect on advertiser demand." Twitter said the near-term financial impact of the virus outbreak on its bottom line was "rapidly evolving and difficult to measure." But the company added that its first-quarter revenue will be "down slightly on a year-over-year basis," and that it will post an overall GAAP operating loss.