Twitter faces loss despite growing no. of users in Q2

Wednesday, 30 July 2014 - 2:47pm IST | Agency: ANI

Social networking service Twitter reported a loss of 145 million dollars during the second-quarter period from March to June, but a grown no. of users.

That is more than triple the loss the company reported during the same period a year ago.

Twitter said it had 271 million monthly users up 24 percent from a year ago - allaying investor fears that the service is not growing fast enough.

Chief executive Dick Costolo noted Twitter's strong user figures during the World Cup and said that their strong financial and operating results for the second quarter show the continued momentum of the business.

He added that it was not just the World Cup that drove user growth, in an effort to allay fears that the company would not be able to keep the users it gained during the sporting event.

Twitter said it added 16 million new users during the March to June period - 13 million internationally and 3 million in the US.

Advertising revenue grew 129 percent from the same period a year earlier to 277 million dollars. Crucially for investors worried about shifting user habits, a majority of that advertising revenue came from mobile advertising.

Twitter also revealed that more than 78% of its clients access the service on their mobile devices.

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