Twitter user growth stalls, revenue dips

AFP, SAN FRANCISCO: Twitter failed to boost its user base and saw a drop in revenues in the past quarter, the social network said yesterday, sending its shares tumbling in pre-market trade.

The message platform, which has been struggling to keep pace in the fast-moving world of social media, reported a net loss of $116 million in the second quarter, slightly wider than its $107 million loss a year ago.

More significantly, Twitter reported its base of monthly active users was unchanged at 328 million compared to the first three months of the year and up just five  from a year earlier.

Twitter said revenues in the quarter slipped five  from a year ago to $574 million, and advertising revenue fell eight  to $489 million.

Shares in Twitter sank more than nine  to $17.77 in pre-opening trade on Wall Street following the release.

Twitter, which has never delivered a profit, said it is making progress on improving its product, in the expectation this will boost growth and help it move to profitability.

"We have developed what we believe are steady, stable and sustainable engines of growth," Twitter chief executive Jack Dorsey told a conference call.

"Twitter is what's happening in the world and what people are talking about."

Dorsey said Twitter was focusing on the metric of "daily active users" rather than the more closely watched monthly figure, and said daily usage was up 12 , without offering a specific number.

"We're strengthening our execution, which gives us confidence that our product improvements will continue to contribute to meaningful increases in daily active usage," he said in a statement.

"We're also encouraged by the progress we're making executing against our top revenue-generating priorities as we focus on making Twitter the best place to see and share what's happening, where you can see every side and perspective."

Twitter user growth stalls, revenue dips

AFP, SAN FRANCISCO: Twitter failed to boost its user base and saw a drop in revenues in the past quarter, the social network said yesterday, sending its shares tumbling in pre-market trade. The message platform, which has been struggling to keep pace in the fast-moving world of social media, reported a net loss of $116 million in the second quarter, slightly wider than its $107 million loss a year ago. More significantly, Twitter reported its base of monthly active users was unchanged at 328 million compared to the first three months of the year and up just five from a year earlier. Twitter said revenues in the quarter slipped five from a year ago to $574 million, and advertising revenue fell eight to $489 million. Shares in Twitter sank more than nine to $17.77 in pre-opening trade on Wall Street following the release. Twitter, which has never delivered a profit, said it is making progress on improving its product, in the expectation this will boost growth and help it move to profitability. We have developed what we believe are steady, stable and sustainable engines of growth, Twitter chief executive Jack Dorsey told a conference call. Twitter is whats happening in the world and what people are talking about. Dorsey said Twitter was focusing on the metric of daily active users rather than the more closely watched monthly figure, and said daily usage was up 12 , without offering a specific number. Were strengthening our execution, which gives us confidence that our product improvements will continue to contribute to meaningful increases in daily active usage, he said in a statement. Were also encouraged by the progress were making executing against our top revenue-generating priorities as we focus on making Twitter the best place to see and share whats happening, where you can see every side and perspective.