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Twitter posts profits, still struggles

Poor old Twitter. It's just beaten revenues estimate, but Wall Street has reacted with indifference at best.

#Stockprice

Twitter's third quarter earnings clocked in at US$361 million, ahead of the expected US$351 million. In the same quarter last year Twitter's revenue was US$169 million.

On the basis of these figures Twitter is expected to attract fourth quarter revenue of around US$450 million.

Global growth

Twitter CEO Dick Costolo also revealed the company now has 284 million monthly active users, an increase of 13 million since Q2.

Interestingly, while 3 million of these users were in the US, the majority (10 million) came from around the globe.

However Twitter's timeline views per monthly active user fell from 793 to 774, the second consecutive quarter of decline.

Hard sell

Following the news Twitter's stock dropped over 10%. It's speculated this was due to Twitter's slowing user growth. Even though user numbers are up 23% year-on-year, the increase is less than 5% from Q2.

Twitter isn't the only one feeling the heat. Facebook recently posted higher than expected revenues but slowing user growth – and Wall Street similarly responded by dumping Facebook's stock by 9%.

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