Twitter lost $162m between January and March, representing a 30% dip despite an 18% increase in users year over year. Revenues for the January to March period came in at $436m, less than the $450m analysts had expected, which Twitter attributed to the purchase of marketing tech company TellApart. Twitter’s user base grew 18 percent […]
Twitter lost $162m between January and March, representing a 30% dip despite an 18% increase in users year over year.
Revenues for the January to March period came in at $436m, less than the $450m analysts had expected, which Twitter attributed to the purchase of marketing tech company TellApart.
Twitter’s user base grew 18 percent year on year to 302 million, and advertising revenue for the quarter came in at $388m, up a massive 72% on the same period last year.
Twitter CEO Dick Costolo remained positive, however, saying that he expects the firm to return to profitability in the near future.
“While we exceeded our EBITDA target for the first quarter, revenue growth fell slightly short of our expectations due to lower-than-expected contributions from some of our newer direct response products,” he explained.
“It is still early days for these products, and we have a strong pipeline that we believe will drive increased value for direct response advertisers in the future.
“We remain confident in our strategy and in Twitter’s long-term opportunity, and our focus remains on creating sustainable shareholder value by executing against our three priorities: strengthening the core, reducing barriers to consumption and delivering new apps and services.”
