Categories: Business

Twitter reports $145 million profit loss in Q2 2014

Twitter reported a loss of $145 million during Q2 2014.

That is more than triple the loss Twitter reported during the same period a year ago.

The social networking service said it had 271 million monthly users – up 24% from a year ago – allaying investor fears that the service is not growing fast enough.

Shares in the company soared over 35% in after-hours trading.

Twitter reported a loss of $145 million during Q2 2014

“Our strong financial and operating results for the second quarter show the continued momentum of our business,” said Twitter CEO Dick Costolo in a statement, noting the company’s strong user figures during the World Cup.

However, in an interview with CNBC, Dick Costolo said that it was not just the World Cup that drove user growth, in an effort to allay fears that the company would not be able to keep the users it gained during the sporting event.

Twitter said it added 16 million new users during the March to June period – 13 million internationally and 3 million in the US.

Advertising revenue grew 129% from the same period a year earlier to $277 million. Crucially for investors worried about shifting user habits, a majority of that advertising revenue came from mobile advertising.

Twitter said more than 78% of its users access the service on their mobile devices.

Clyde K. Valle

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

Recent Posts

Spain: At Least 158 Killed In The Country’s Worst Flooding Disaster

At least 158 people have died in Spain's worst flooding disaster in generations. On October…

2 days ago

Russia Fines Google $20,000,000,000,000,000,000,000,000,000,000,000, Surpassing Global GDP

Google has been fined two undecillion (a two followed by 36 zeroes) roubles by a…

2 days ago

Financing Your Home Remodel: 7 Tips for Success

Embarking on a home remodel is an exciting journey, promising enhanced comfort, increased property value,…

2 weeks ago

Donald Trump Serves Up McDonald’s Fries While Kamala Harris Celebrates 60th Birthday with Church Choir

The US presidential candidates continued to campaign across key swing states on October 20. Footage…

2 weeks ago

America PAC: Elon Musk Promises to Award $1M Each Day to Swing States Voters

Elon Musk has said he will give away $1 million a day to a registered…

2 weeks ago

Canada Expels 6 Indian Diplomats Amid Khalistan Row

India and Canada have decided to expel their top envoys along with other diplomats as…

3 weeks ago