Reuters logo
REFILE-UPDATE 1-Twitter reports lackluster user growth, $243 mln revenue
February 5, 2014 / 9:22 PM / 4 years ago

REFILE-UPDATE 1-Twitter reports lackluster user growth, $243 mln revenue

(Refiles to remove extraneous word “made” in third paragraph)

SAN FRANCISCO, Feb 5 (Reuters) - Twitter Inc reported anemic 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 percent to $58 in after hours trading.

The company reported $243 million in revenue during the fourth quarter, topping investors’ expectations of $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 percent from the previous quarter - the lowest rate since Twitter began disclosing its user figures.

Twitter’s user numbers grew at 10 percent, 7 percent, and 6 percent during the first three quarters of the year, respectively.

Twitter, which held a highly-anticipated initial public offering in November at $26 a share, has divided investor opinion in the months since as shares more than doubled to more than $66 despite an absence of news. (Reporting by Gerry Shih; Editing by Nick Zieminski)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below