Technology

Twitter reports big loss, but users climbing

Micro-blogging platform Twitter said monthly users have risen 24 per cent in 12 months to 271 million in June as it announced a loss of $145 million (£86 million) for the second quarter.

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Micro-blogging platform Twitter said monthly users have risen 24 per cent in 12 months to 271 million in June as it announced a loss of $145 million (£86 million) for the second quarter.

Technology

Twitter reports big loss, but users climbing

Micro-blogging platform Twitter said monthly users have risen 24 per cent in 12 months to 271 million in June as it announced a loss of $145 million (£86 million) for the second quarter.

Share this article

Micro-blogging platform Twitter said monthly users have risen 24 per cent in 12 months to 271 million in June as it announced a loss of $145 million (£86 million) for the second quarter.

The loss was more than three times bigger than during the same period in 2013, but Twitter’s share price leapt 35 per cent on the results, which have assuaged fears that public interest in the website was waning.

Advertising income increased 129 per cent to $277 million in the second quarter compared with the same three-month period last year. It added 16 million new users in that time, 13 million of which came from outside the US.

Chief executive Dick Costolo said the World Cup was a factor in Twitter’s recent growth in popularity, but that users would not abandon the website now that the competition is over.

"Our strong financial and operating results for the second quarter show the continued momentum of our business," said Mr Costolo in a statement accompanying the figures.

"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, we believe we can extend Twitter's appeal to an even broader audience."

Growth in mobile users will also give investors’ confidence. Twitter said 78 per cent of customers access the site through smartphones and tablets.

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Twitter reports big loss, but users climbing

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