Twitter's user growth beats targets, shares skyrocket
Published on Jul 30, 2014 6:06 AM
SAN FRANCISCO (REUTERS) - Twitter's monthly active users rose a better-than-expected 24 per cent in the second quarter as the online messaging service mostly succeeded in stemming a dwindling pace of growth, sending its shares soaring after hours.
Twitter, which has battled to reverse a steady decline in its once-heady pace of user growth, saw users increase to 271 million, still dwarfed by rival Facebook's 1.3 billion.
Wall Street analysts had been expecting a pace of growth closer to 21 per cent.
Timeline views, a measure of the engagement of its users, also exceeded expectations with a 15 per cent increase, far outpacing the roughly 8 per cent expected.
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