NEW YORK – Twitter's third-quarter revenue outpaced expectations, but investors concerned about user growth and holiday-quarter sales clipped the company's stock price late Monday.
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The San Francisco-based company has been trying to increase its user base amid concerns that it doesn't hold mass appeal in the way that the much-larger Facebook does. Its user base grew 23 percent to 284 million monthly active users, which Forrester Research analyst Nate Elliot says was "better than nothing."
Twitter Inc. posted a loss of $175 million, or 29 cents per share, in the latest quarter. That compares with a loss of $64.6 million, or 48 cents per share, a year earlier when it was still a private company. Adjusted earnings were 1 cent a share, matching expectations.
Revenue more than doubled to $361 million and beat the $351.5 million expected by analysts, according to FactSet.