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Twitter Now Has 328 Million Monthly Active s in Strongest Growth in a Year

Twitter Now Has 328 Million Monthly Active s in Strongest Growth in a Year l5w2d

By Reuters | Updated: 26 April 2017 18:08 IST

Highlights

Average monthly active s increased 6 percent to 328 million
Revenue fell 7.8 percent to $548.3 million (roughly Rs. 3,517 crores)
Net loss narrowed to $61.6 million in Q1 ended March 31

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Twitter reported its strongest growth in monthly active s in more than a year and a much better-than-expected quarterly profit, despite stiff competition from Snapchat, sending its shares up 11 percent. 261j6d

The microblogging service said average monthly active s increased 6 percent to 328 million in the first quarter from a year earlier.

Analysts on average had expected 321.3 million monthly active s, according to market research firm FactSet Street.

Revenue fell 7.8 percent to $548.3 million (roughly Rs. 3,517 crores), its first drop since its initial public offering.

Net loss narrowed to $61.6 million, or 9 cents per share, in the first quarter ended March 31, from $79.7 million, or 12 cents per share, a year earlier.

Twitter's growth has stalled in the past few quarters and the company has been trying to convince rs that it will strengthen its base.

As part of its efforts, the company has updated its product offerings including live video broadcasts from its app and launched new features to attract s.

Twitter's weak performance has raised questions about CEO Jack Dorsey's leadership and whether the company would be bought by a bigger media firm. Financial markets speculated about a sale of Twitter last year, but no concrete bids were forthcoming.

Excluding items, the company earned 11 cents per share, beating the estimate of 1 cent per share.

Twitter's advertising revenue fell 11 percent to $474 million in the quarter, above the average analyst estimate of $442.7 million, according to market research firm FactSet Street.

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