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| Twitter Flies on Surprisingly |
| Twitter Flies on Surprisingly Strong Numbers
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| UNITED STATES OF AMERICA
, 30-July-2014
8:47:43 AM |
| Twitter shares shot higher by some 30 percent on Tuesday after its quarterly report showed surprisingly strong revenue and user growth, despite a widening loss.
The popular one-to-many messaging service said its quarterly loss widened to $145 million from a $42 million loss a year ago.
But revenue more than doubled from a year ago $312 million in the three months that ended June 30, with the number of monthly active users hitting 271 million, up 24 percent year-over-year.
The "adjusted" results which exclude certain expenses and stock compensation showed a modest profit of $15 million, better than expected.
That along with the rise in use evidently bolstered confidence of investors who sent the stock soaring about 30 percent in after-market trades to $49.61.
- Doing the right thing -
"They seem to be doing the right thing," said Gartner vice president of mobile computing Ken Dulaney.
"It is well-advertised on TV. Companies put Twitter IDs on pitches. It is kind of ingrained in what we do."
And, the analyst noted, there is plenty of room for Twitter to evolve, perhaps into a more extensive real-time news service tightly linked to television programming.
Twitter's loss included $158 million in stock-based compensation.
Twitter took in $277 million from advertising, a 129 percent increase from the same period a year earlier.
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