Twitter Value Drops Following First-Quarter Figures Report
The social network’s shares dipped 11 percent when first quarter figures revealed a net loss and lower-than-anticipated user growth. Released on Tuesday, Twitter’s quarterly report shows that its monthly active user base has grown to 255 million, disappointing analysts who hoped tweeter numbers would exceed 262 million. Revenue for the last quarter was $250 million, surpassing expectations but still representing a net loss of $132 million. Stocks dipped in after-hours trading, sending the price below Twitter’s initial public offering of $38.80 per share.