Twitter Grows Users But Shares Slip 10%

Written By Unknown on Rabu, 29 Oktober 2014 | 00.26

Twitter's latest results showed progress in efforts to broaden its appeal and revenues but investors were not impressed.

The social network's stock slipped more than 10% in after-hours trading on worries fourth quarter sales may miss targets.

The San Francisco-based company has focused on trying to increase its user base amid concerns it doesn't hold mass appeal in the way that the much-larger Facebook does.

Its user base grew 23% to 284 million monthly active users - a performance seen as progress by analysts - but Twitter still posted a deepening loss of $175m (£109m) in its third quarter.

That compares with a loss of $64.6m (£40m) a year earlier when it was still a private company.

Revenue more than doubled to $361m (£224m).

The focus for investors was its revenue forecasts.

The company said it expected fourth-quarter sales to be in a range of $440m-$450m.


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