• Category: News

Twitter shares for the II quarter increased by 30%

American company Twitter Inc., which owns a network of microblogging with the same name, in the second quarter of 2014 recorded a net loss again despite revenues grown more than doubled. Number of active users as of June 30 reached 271 million people.

Twitter shares for the II quarter increased by 30%

However, the results were better than market expectations, which caused the company's shares jump by 30% in the electronic trading session after the publication of statements. Twitter net loss in April-June amounted to $144.6 million or 24 cents per share, compared with a loss of $42.2 million or 32 cents per share in the same period last year, according to a press release.

Excluding one-time factors, the company entered in the last quarter to a profitable level, receiving a profit of 2 cents per share versus a loss of 12 cents a year earlier. Revenue jumped to $312.2 million versus $139.3 million for the same period last year.

Analysts polled by FactSet on average expected adjusted loss at 1 cent per share on revenue of $283.3 million. Number of active users (active account at least once a month) as of June 30 reached 271 million people, which is by 24% higher than at the same date last year, according to Twitter statements.

Experts waiting for the growth to 267 million, but the rate of increase continues to slow: in January-March growth was 25%, and in October and December last year – 30%. In the third quarter Twitter expects to receive revenue in the range of $330-340 million versus the consensus estimate of $323 million. The company estimates to make the revenue between $1.31 billion to $1.33 billion in 2014.

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