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Twitter shares fall as losses grow

Losses are mounting at micro-blogging site Twitter. Figures for the three months to the end of Se...
Newstalk
Newstalk

15.51 28 Oct 2015


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Twitter shares fall as losses...

Twitter shares fall as losses grow

Newstalk
Newstalk

15.51 28 Oct 2015


Share this article


Losses are mounting at micro-blogging site Twitter.

Figures for the three months to the end of September show it lost US131m (€119m), despite seeing revenues climb 58% to US$569m (€515m).

This translates to a net loss of 20c per share.

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Twitter says that total average monthly active users (MAUs) were 320 million for the third quarter - up 11% year-over-year.

But that is compared to just 316 million in the previous quarter.

Twitter CEO Jack Dorsey says: "We continued to see strong financial performance this quarter, as well as meaningful progress across our three areas of focus: ensuring more disciplined execution, simplifying our services, and better communicating the value of our platform".

"We've simplified our roadmap and organisation around a few big bets across Twitter, Periscope, and Vine that we believe represent our largest opportunities for growth" he adds.

The site says its advertising revenue totaled US$513m (€463m) - an increase of 60% year-over-year - while mobile advertising revenue was 86% of the total.

Twitter shares fell 9.7% on opening this morning, but were recovering in the afternoon.


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