Twitter revenues leap 119% but user growth 'crawls'

twitterTwitter’s first-quarter revenues have leapt 119% to $250m (£149m), but the network’s user growth came below analysts expectations, causing its share price to fall overnight.

The social network reported profits of $250m for the three months to 31 March, $226m (£134m), which came from advertising revenues, up 125% year on year.

Twitter said its mobile advertising revenue accounted for approximately 80% of its total ad revenue.

The network also posted a net loss of $132m (£79m), while its user growth rose by just 3.8%. The BBC reported that Twitter’s stocks fell by more than 11% in after-hours trading.

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