Twitter reports $645m loss for 2013

Twitter reports $645m loss for 2013

Twitter reports $645m loss for 2013

Written by Bella Dalima

06 Feb, 2014 | 5:35 pm

Microblogging site Twitter has reported a net loss of $645m (£396m) for 2013, just three months after its flotation on the New York Stock Exchange.

The loss was expected by analysts, who highlighted Twitter’s revenues, which rose 110% last year to reach $665m.

But a reported slow growth in user numbers was a bigger concern for investors.

Twitter averaged 241 million monthly users in the last quarter of the year, up just 3.8% on the previous quarter.

That represents a slowdown compared with a growth rate of 10% seen at the beginning of 2013.

Timeline views were down nearly 7%, suggesting users were refreshing their feeds less often.

Shares fell as much as 12% in after-hours trading on Wednesday.

 

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