Twitter’s loss widens in Q2, 2014, but user numbers propel share price

Twitter

Twitter has reported that its quarterly loss widened to $145 million despite revenue more than doubling, but its shares soared on word of healthy user growth.

Revenue at the popular micro-blogging platform topped $312 million in the three months that ended on June 30. Number of monthly active users reached 271 million, up 24 percent when compared with the same period a year earlier.

The loss adjusted for special items was less than the market had expected, and the rise in use evidently bolstered confidence of investors who pushed the stock up more than 28 percent to $49.50 in after-market trading that followed release of the earnings figures.