NEW YORK, NY / ACCESSWIRE / November 5, 2018 / Shares of Twitter were trailing lower on Friday. The social media company announced that it had deleted over 10,000 automated accounts that were aiming to discourage voting. Shares of Apple were crashing despite fourth quarter results that beat expectations. Traders may have been concerned about the company’s outlook and that it will stop disclosing unit sales.
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Twitter, Inc. shares closed down 0.92% on almost 24 million shares traded on Friday. It was revealed that the social media site has deleted over 10,000 automated accounts that had been posting messages that discouraged people from voting in this week's U.S. election. "We removed a series of accounts for engaging in attempts to share disinformation in an automated fashion — a violation of our policies," a Twitter spokesperson said. They added, "We stopped this quickly and at its source . The removals took place in late September and early last month. "For the election this year we have established open lines of communication and direct, easy escalation paths for state election officials, DHS, and campaign organizations from both major parties," the Twitter spokesperson also said. It was earlier this year that Twitter had suspended 70 million fake and suspicious accounts.
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Apple Inc. shares were down 6.63% on Friday on about 91.3 million shares traded. The iPhone maker reported fourth quarter results that beat expectations but an outlook that depressed Wall Street. The company reported quarterly revenue of $62.9 billion, an increase of 20 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.91, up 41 percent. “We’re thrilled to report another record-breaking quarter that caps a tremendous fiscal 2018, the year in which we shipped our 2 billionth iOS device, celebrated the 10th anniversary of the App Store and achieved the strongest revenue and earnings in Apple’s history,” said CEO Tim Cook. “Over the past two months, we’ve delivered huge advancements for our customers through new versions of iPhone, Apple Watch, iPad and Mac as well as our four operating systems, and we enter the holiday season with our strongest lineup of products and services ever.” Cook added, “We concluded a record year with our best September quarter ever, growing double digits in every geographic segment. We set September quarter revenue records for iPhone and Wearables and all-time quarterly records for Services and Mac,” said Luca Maestri, Apple’s CFO. “We generated $19.5 billion in operating cash flow and returned over $23 billion to shareholders in dividends and share repurchases in the September quarter, bringing total capital returned in fiscal 2018 to almost $90 billion.” Looking ahead, for the fiscal 2019 first quarter, Apple has forecast revenue between $89 billion and $93 billion. The company also said it would be no longer disclosing unit sales of its products for investors. The company had done this for over a decade.
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