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Twitter revenues more than double on ad sales, user growth

DPA Los Angeles | Updated on November 25, 2017

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The online messenger service Twitter reported a quarterly revenue of $312 million, a 124 per cent increase compared to $139 million a year earlier, the San Francisco-based company said on Tuesday.

Much of the revenue boost came from a 29 per cent increase in advertising sales.

Active members reached 271 million as of June 30, an increase of 24 per cent compared to the same period a year earlier.

Shares jumped 35 per cent to over $52 in extended trading following the announcement. The rapid increase of users was closely watched by investors.

The social media company went public in November 2013 at a price of $26 per share.

“We remain focused on driving increased user growth and engagement, and by developing new product experiences, like the one we built around the World Cup,” said Dick Costolo, Chief Executive Officer of Twitter.

The growth, however, came at a price. Twitter reported a net loss of $145 million in the second quarter of 2014 compared to a loss of $42 million a year earlier.

The loss included $158 million of stock-based compensation expenses, the company said.

Published on July 30, 2014

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