Twitter has some more growing up to do.
On the one hand, its ad business is clearly maturing and showing robust growth. On the other, growth is flattening, and CEO Dick Costolo conceded the company needs to do a better job making itself accessible and useful to the masses.
“”We don’t need to change any characteristics of our platform, we simply need to make Twitter a better Twitter,” he said.
Twitter reported revenue of $242.7 million for the fourth quarter of last year, up 116% from $112 million over the previous year. That amounts to a profit of $9.8 million on an adjusted basis. Counting stock-based compensation, Twitter’s net loss was $511.5 million, up from $8.7 million a year earlier and more than double what analysts had projected.
The company’s stock had fallen by almost 18% to $54.31 in after-hours trading — still more than double its $26 IPO price, however.
Read the rest at Twitter Reports Strong Revenue But Slowing User Growth | Digital – Advertising Age.
