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Twitter adds 16 million users as earnings top expectations

But it's still a long way behind Facebook
Wed Jul 30 2014, 09:59
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MICROBLOGGING WEBSITE Twitter added 16 million users in the second quarter, which saw it trumping analyst expectations.

As well as adding 16 million users during the three month period, taking Twitter's active user base to 271 million, the firm also posted $312m in revenue for the quarter, up 124 percent year on year. This figure also blew analyst expectations out of the water, as they had expected Twitter to post revenues of $284.3m.

Twitter also posted a profit of $0.02 per share, up from the one cent per share loss the firm was expected to show. Twitter credited this growth to strong advertising revenue per 1,000 timeline views, which it boasted was up 100 percent year on year. Twitter added that 81 percent of its ad revenue came from mobile.

Twitter CEO Dick Costolo said, "Our strong financial and operating results for the second quarter show the continued momentum of our business.

"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."

Events such as the World Cup saw Twitter's users become more engaged too, with the microblogging website revealing that total timeline views were up 15 percent compared to last year.

Twitter also announced that mobile users make up 78 percent of its total user base, or 211 million users. However, Twitter is still a long way behind its arch rival, with Facebook ending its second quarter with 1.3 billion users.

Twitter predicted it will beat expectations again in the third quarter, with forecasting revenue to be between $330m and $340m. µ

 

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