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Twitter posts strongest growth in monthly users in a year

News 26 Apr 2017
Twitter posts strongest growth in monthly users in a year

The Twitter logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2016. REUTERS/Brendan McDermid/File Photo

Twitter Inc reported a 6 percent increase in monthly active users, beating analysts' expectations, after several quarters of stagnating growth.

The microblogging service said its user base rose to 328 million average monthly active users in the first quarter from 319 million in the fourth quarter.

Analysts on average had expected 321.3 million monthly active users, according to market research firm FactSet StreetAccount.

Revenue fell 7.8 percent to $548.3 million, its first drop since its initial public offering.

Net loss narrowed to $61.6 million, or 9 cents per share, in the first quarter ended March 31, from $79.7 million, or 12 cents per share, a year earlier. (bit.ly/2phNNZH)

(Reporting by Rishika Sadam in Bengaluru; Editing by Saumyadeb Chakrabarty)

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