Twitter reports 255 million users, disappointing Street

SAN FRANCISCO Wed Apr 30, 2014 2:10am IST

A portrait of the Twitter logo in Ventura, California December 21, 2013. REUTERS/Eric Thayer/Files

A portrait of the Twitter logo in Ventura, California December 21, 2013.

Credit: Reuters/Eric Thayer/Files

Stocks

   

SAN FRANCISCO (Reuters) - Twitter Inc on Tuesday reported 255 million monthly active users, up 5.8 percent from the previous quarter but not enough to satisfy investors increasingly concerned about its struggle to gain a mass following.

Its shares fell 8.5 percent to $39 in extended trading.

The San Francisco-based company also said viewers refreshed their "timelines" - Twitter's equivalent of Web pageviews - 157 billion times in the first quarter, slightly below what some analysts had hoped for.

The company, however, posted better-than-expected quarterly revenue of $250 million, as its mobile ads drew more viewer responses.

Twitter Chief Executive Dick Costolo pledged in February to revive user growth after disclosing it had fallen to its lowest rate in years. Its shares have been trading 40 percent below their peak as investors wait to see whether the service could broaden its appeal.

(Reporting by Gerry Shih; Editing by David Gregorio)

FILED UNDER:

Reuters Showcase

Markets Weekahead

Markets Weekahead

Focus on sectors which will build India: Ambareesh Baliga.  Full Article 

FMC-SEBI Merger

FMC-SEBI Merger

Regulatory shakeup could revive commodities markets   Full Article 

Tax Incentives

Tax Incentives

Budget woos foreign investors  Full Article 

Excise Duty

Excise Duty

Cigarette makers fall after budget hikes excise duty  Full Article 

Welcoming the Budget

Welcoming the Budget

India Inc cheers corporate tax cut, simpler rules  Full Article 

Gold Price

Gold Price

Gold prices to rise after budget keeps import duty high  Full Article 

Fuel Prices

Fuel Prices

IOC to raise diesel, petrol prices from Sunday  Full Article 

Moody's on Budget

Moody's on Budget

Budget "credit neutral" from a ratings perspective - Moody's   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage