Trump tweets don't help: 1st Twitter revenue drop since IPO

The company announced Wednesday morning that its daily-active-user count was up 14% relative to a year ago, while the number of monthly active users rose by 6%, to 328 million.

The social-media platform beat on profit and revenue expectations, despite its first quarterly revenue decline.

Separately, in an interview with BuzzFeed News, Noto said Twitter is gearing up to stream live video clips and content 24 hours a day in an effort to draw more advertising dollars.

Twitter shares rallied 11 percent in pre-market trade, suggesting an easing of fears about the path forward for the micro-blogging service.

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Twitter grew its U.S. user base in the first quarter by 3 million. During the first quarter, which ended on March 31, 9 million active monthly users were added.

Overall, Twitter reported net loss of $61.6 million, or 9 cents a share for the three-month period ended March 31, narrower than $79.7 million, or 12 cents a share, in the same period a year ago.

The company reported that advertising revenue for the quarter was $474 million, a plunge of 17 percent year-over year.

Brian Wieser of Pivotal Research said Twitter's results were "better than expected, with generally positive user trends" but that it still faces a hard road ahead. Excluding certain one-time expenses, the company earned 11 cents per share, above the 1 cents per share projected. We believe, however, that executing on our plan and growing audience should result in positive revenue growth over the long term.

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We've made meaningful progress toward identifying and removing accounts that demonstrate abusive behavior and, as a result, we're seeing less abuse reported across the service.

Twitter is finally showing signs of attracting new users, which was its biggest challenge till now. The daily users have been increasing at a much quicker pace every quarter for the last year, said Twitter, even gaining this year from "new and resurrected users following more news and political accounts", particularly in the U.S. On average, analysts expected Twitter's MAUs to be around 321.3 million based on data compiled by FactSet StreetAccount.

"Revenue down isn't good", said Michael Pachter, an analyst at Wedbush Securities.

On the other hand, Twitter COO Anthony Noto said the company's platform is the "best place to drive brand perception" and they will continue to highlight its "unique value proposition to advertisers".

Where Apple stands in quest for 100 percent clean energy
Customers are also being encouraged to return defunct products to its recycling program, Apple New. Apple is now 100 per cent renewable in 24 countries, including all of its data centres.

You can read Twitter's letter to shareholders here.

(Copyright © 2015. All Rights Reserved.)
 
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