Twitter on Thursday reported its revenue almost doubled in the December ending quarter last year while pace of user growth slowed during the same period.
The micro-blogging giant reported its revenue hit $479 million in the fourth quarter, up 97 per cent from $242.6 million in the same period a year ago. The company’s quarterly loss shrank to $125 million, as compared with a $511 million loss a year ago.
“We closed out the year with our business advancing at a great pace,” said Twitter chief executive Dick Costolo.
Twitter’s monthly active user number grew to 288 million, just four million more than in the previous quarter, falling short of analysts’ expectations of 292 million. It revealed that about 80 percent of the people connected with the service using mobile devices.
Twitter said that it lost four million monthly users due to a glitch in the new iOS 8 mobile operating system rolled out for iPhones, iPads and iPod touch devices.
“There was an unforeseen bug in iOS 8,” Costolo said during an earnings call on Thursday. “Once we understood the issue we moved as fast as we could to minimize the impact.”
Twitter shares were up more than 10 percent to $45.65 in after-market trades following the release of the earnings figures.
The social networking platform is hoping to add 13 million to 16 million net users in the first quarter as it did in the first three quarters of 2014.
