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:

Religion and Politics

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Hacking Attack

Hacking Attack

N.Korea says did not hack Sony, wants joint probe with U.S.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

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