Twitter has announced its first-quarter results today, reporting it added 14 million users for the period that ended in March. The social network therefore has 255 million monthly active users, an increase of 25 per cent year-over-year.
Twitter also reported it has 198 million mobile monthly active users, an increase of 31 per cent year-over-year. That means mobile users represent 78 per cent of total monthly active users. Those numbers should appease investors, many of which warned Twitter to boost its user base after tepid Q4 earnings.
During its Q4 earnings conference call, the company admitted it didn't match the growth rates of Facebook, Snapchat, etc, and that new users found Twitter difficult to use. It then teased changes in the pipeline - one of which ended up being a redesign - that would make Twitter easier and entice people to join.
The company posted $250 million in revenue and no profit, with a net loss of $132 million for Q1 2014, slightly beating analysts' expectations. The Wall Street consensus had predicted Twitter would report a loss of 3 cents a share, on revenue of $241 million for the quarter.
"We had a very strong first quarter. Revenue growth accelerated on a year over year basis fueled by increased engagement and user growth," said Dick Costolo, chief executive at Twitter, in a statement. "We also continue to rapidly increase our reach and scale."
As for Twitter's second quarter forecast, the company said it expects revenue in the range of $270 million to $280 million.
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