Friday, Aug 22, 2014Friday, Aug 22, 2014
News
 

Twitter reports lacklustre user growth, $309m revenue

Published on Feb 6, 2014 5:52 AM
 
The Twitter logo is displayed on the floor of the New York Stock Exchange in this file photo taken on Nov 8, 2013. Twitter Inc reported anaemic user growth during the final three months of 2013, sending shares sinking after its first quarterly report as a public company. -- FILE PHOTO: REUTERS

SAN FRANCISCO (REUTERS) - Twitter Inc reported anaemic user growth during the final three months of 2013, sending shares sinking after its first quarterly report as a public company.

Shares dropped more than 10 per cent to US$58 in after hours trading.

The company reported US$243 million (S$309 million) in revenue during the fourth quarter, topping investors' expectations of US$218.2 million, on average.

But user growth, a closely watched metric, appeared to falter. It averaged 241 million monthly users, up just 3.8 per cent from the previous quarter - the lowest rate since Twitter began disclosing its user figures.

 
If you are not a subscriber, you can get instant, unlimited access here