Twitter suffers slowest revenue growth since flotation

Twitter suffers slowest revenue growth since flotation

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The logo of social networking website 'Twitter' is displayed on a computer screen in London on September 11, 2013. AFP PHOTO / LEON NEAL / AFP / Leon NEAL (Photo credit should read LEON NEAL/AFP/Getty Images)

Twitter has posted its weakest quarterly revenue growth since its stock market flotation in 2013, with shares plunging 10% on opening in New York.

The microblogging service, which has never made a profit, reported a 1% rise in fourth-quarter revenue to $717m (£571m).

The figure failed to meet market expectations of £740m for the three-month period.

Twitter said its annual net loss had eased to $457m (£364m) from $521m the year before, despite quarterly losses widening.

It also warned that underlying profitability would take a hit in 2017 because revenue growth would continue to lag user growth amid stiff competition for advertising spending… see more

source: skynews