User growth brightens outlook for Twitter despite losses

AFP, WASHINGTON: Twitter said yesterday user growth picked up in the past quarter, offering an upbeat outlook despite a decline in revenue and another loss for the social network.
The first quarter results came in better than most forecasts, delivering an early pre-market lift for shares in Twitter, which has struggled to keep pace in the fast-moving world of social media.
The closely watched metric of monthly active users grew nine percent from the same period a year ago to 328 million. Twitter said daily active usage rose 14 percent without offering a specific figure.
The net loss narrowed to $62 million from $80 million a year earlier for Twitter, which has never reported a profit.
Revenues meanwhile fell eight percent to $548 million—which would normally be troubling for a social media group, but the figure was not as bad as feared.
“We’re delivering on our goal to build a service that people love to use, every day, and we’re encouraged by the audience growth momentum we saw in the first quarter,” chief executive Jack Dorsey said in a statement.

User growth brightens outlook for Twitter despite losses

AFP, WASHINGTON: Twitter said yesterday user growth picked up in the past quarter, offering an upbeat outlook despite a decline in revenue and another loss for the social network. The first quarter results came in better than most forecasts, delivering an early pre-market lift for shares in Twitter, which has struggled to keep pace in the fast-moving world of social media. The closely watched metric of monthly active users grew nine percent from the same period a year ago to 328 million. Twitter said daily active usage rose 14 percent without offering a specific figure. The net loss narrowed to $62 million from $80 million a year earlier for Twitter, which has never reported a profit. Revenues meanwhile fell eight percent to $548 millionwhich would normally be troubling for a social media group, but the figure was not as bad as feared. Were delivering on our goal to build a service that people love to use, every day, and were encouraged by the audience growth momentum we saw in the first quarter, chief executive Jack Dorsey said in a statement.