Twitter loss widens but user numbers propel shares

July 30, 2014 08:26

Twitter has reported that its quarterly loss widened to USD 145 million despite revenue more than doubling, but its shares soared on word of healthy user growth.

Revenue at the popular one-to-many messaging service topped USD 312 million in the three months that ended June 30, with the number of monthly active users hitting 271 million, up 24 per cent when compared with the same period a year earlier, Twitter reported yesterday.

The loss adjusted for special items was less than the market had expected, and the rise in use evidently bolstered confidence of investors who pushed the stock up more than 28 per cent to USD 49.50 in after-market trading that followed release of the earnings figures.

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