Twitter’s reported its strongest growth in monthly active users in more than a year and a much better-than-expected quarterly profit, despite stiff competition from Facebook and Snapchat, sending its shares up 11 percent.<\/p>\n\n\n\n
The microblogging service said average monthly active users increased 6 percent to 328 million in the first quarter from a year earlier.<\/p>\n\n\n\n
Analysts on average had expected 321.3 million monthly active users, according to market research firm FactSet StreetAccount.<\/p>\n\n\n\n
Revenue fell 7.8 percent to $548.3 million (roughly Rs. 3,517 crores), its first drop since its initial public offering.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
Twitter’s user growth has stalled in the past few quarters and the company has been trying to convince advertisers that it will strengthen its user base.<\/p>\n\n\n\n
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 users.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
Excluding items, the company earned 11 cents per share, beating the estimate of 1 cent per share.<\/p>\n\n\n\n
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 StreetAccount.<\/p>\n","protected":false},"excerpt":{"rendered":"
Twitter’s reported its strongest growth in monthly active users in more than a year and a much better-than-expected quarterly profit, despite stiff competition from Facebook and Snapchat, sending its shares up 11 percent. The microblogging service said average monthly active users increased 6 percent to 328 million in the first quarter from a year earlier. […]<\/p>\n","protected":false},"author":1,"featured_media":47773,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":{"0":"post-10518","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile-apps"},"yoast_head":"\n