Twitter Shares Drop 11% On Slowdown In User Growth

Shares in Twitter dropped to their lowest levels since the company's stock market flotation, as it reported slower than expected user growth.

The number of active users on the social network reached 255 million in the first three months of 2014, up 5.8% on the previous quarter but below analysts' expectations.

Twitter also reported a net loss of $132m (£78m) for the latest quarter.

But it posted revenue of $250m, $226m of which came through advertising.

Despite higher user growth than the previous quarter, when Twitter saw just a 3.8% rise, Twitter's stocks fell by more than 11% in after-hours trading, sending the price below its initial public offering of $38.80 per share.

(BBC)

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