Twitter shares fall on slower growth
Shares in social media giant Twitter fell 11% in after-hours trading - dropping to their lowest level since the company's stock market flotation - as it reported slower-than-expected user growth.
The number of active users on the social network reached 255 million in the first three months of 2014, up 5.8% on the previous quarter. But that growth was below analysts' expectations.
Twitter also reported a net loss of $132m (£78m) for the latest quarter.
However, its revenues more than doubled to $250m, thanks to a sharp rise in income from advertising.
The BBC's Michelle Fleury explains why investors are so worried.
30 Apr 2014
- From the section Business