Twitter reports lacklustre user growth, $309m revenue
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.