Company reports 8% topple in revenue in first quarter to $548m,but shares rebound as number of users rises
Twitter’s revenue has fallen for the first time, as advertisers have pulled back from the social media service favoured by Donald Trump, and celebrities and journalists. However,the Silicon Valley company, which has never turned a profit, and cheered investors by announcing a meaningful rise in the number of monthly users,to 328 million.
Shares in the company, which hit a peak of $69 in 2014, and rose by more than 10% to $16.14 on Wednesday as the revenue and user number figures exceeded analysts’ expectations. Related: Twitter loses ad revenue despite gaining 2 million users and Trump 'boost' Continue reading...
Source: theguardian.com