Twitter falls short of expected growth, faces 10% fall in share prices

Social micro-blogging website Twitter has recently reported a fall of 10% in share prices, and a growth of 13 million which fell short of the expected 14-17 million. According to The Guardian, results released on Monday for the third quarter of the year show Twitter's revenues soared to 361 million dollars, up 114% from the same period last year, beating expectations.

But the number of monthly active users of the service grew just 13 million to 284 million from the previous quarter. Analysts had predicted growth would between 14 million and 17 million. The number of monthly active users represents a 23% increase year on year but was up just 4.8% from the last set of results and below the 6.3% quarter-on-quarter growth it reported in the second quarter.

The company has shaken up management and begun changing its platform in order to make it more accessible to new users.

While revenues are growing strongly, Twitter remains unprofitable. It reported a net loss of 175 million dollars for the quarter, up from 64.6 million dollars last year, the report said.