After shares dropped as much as 10 percent following Q3 results, Twitter vow to make users the focus.
Deceleration of user growth from 24% down to 23% on the same period last year has prompted Twitter Chief Executive Officer Dick Costolo to focus in this direction, citing accessibility and investment in new apps and services as a way to attract social media consumers.
Figures reported by Bloomberg say that Twitter shares fell as much as 12 percent in extended trading. The stock declined 2.8 percent to $48.56 at yesterday’s close in New York.
Highlights of the financial results for the quarter ended September 30, 2014 for Twitter:
Q3 revenue of $361 million, up 114% year-over-year
Q3 net loss of $175 million and non-GAAP net income of $7 million
Q3 GAAP EPS of ($0.29) and non-GAAP EPS of $0.01
Q3 adjusted EBITDA of $68 million, representing an adjusted EBITDA margin of 19%
Note: GAAP: generally accepted accounting principles in the United States
"We had another very strong financial quarter" said Dick Costolo, CEO of Twitter. "I'm confident in our ability to build the largest daily audience in the world, over time, by strengthening the core, reducing barriers to consumption and building new apps and services."
Third Quarter 2014 Operational Highlights
Average Monthly Active Users (MAUs) were 284 million for the third quarter, an increase of 23% year-over-year.
Average Mobile MAUs represented around 80% of total MAUs.
Timeline views reached 181 billion for the third quarter of 2014, an increase of 14% year-over-year.
Advertising revenue per thousand timeline views reached $1.77 in the third quarter of 2014, an increase of 83% year-over-year.
Revenue for the fourth quarter of 2014: In the range of $440 million to $450 million.
Revenue outlook for the full year of 2014: In the range of $1,365 million to $1,375 million.
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Image: Twitter HQ: Reception desk, copyright Aaron Durand (@everydaydude) for Twitter, Inc.