Finally some good news from Twitter has arrived which soared its stock during the after-hours of trading. Twitter has released its quarterly report. The user growth, as expected missed the analysts’ expectations but the micro-blogging company has surprisingly beat the revenue estimates.
Twitter’s revenue surged by 97% and brushed $479.1 million whereas the Street was eying for something around $453 million. The losses also plummeted for Twitter. The social media giant depleted its losses to $125 million whereas the loss was above $500 million as compared to the last year.
Twitter’s CEO Dick Costolo has finally got some space for a breather. He was lashed out by investors for bad results since consecutive quarters. However, the user growth for Twitter still remains a problematic area. Twitter has reported that its users went up by 20% to 288 million by the end of 2014. The estimates were around of 22%. Overall, the user growth came down by 2% as compared to the last year, a red flag for Twitter, which is being crushed by Facebook and Instagram.
Soon after the report, Twitter’s stock went up by 9%. Twitter’s CEO spoke to the media and claimed that Twitter ended the year 2014 with a positive sign. He said that Twitter is working on a number of projects which are being designed for all the users, whether they have an account on Twitter or not.
Twitter also recently signed a deal with Google regarding real-time Tweets. The company is revamping its management and policies to get back in action in 2015.
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