Finance

Twitter's monthly active users rises 6% in first quarter from year earlier

Twitter's monthly active users rises 6% in first quarter from year earlier”

Twitter said it was pleased with its audience and engagement figures for the period, with growth in daily active users accelerating for a fourth quarter, to an increase of 14 percent year-on-year.

The microblogging social network said its tally of monthly active users (MAU) has increased from 319 million in Q4 to 328 million in Q1, representing growth of around six percent. Overall, though, this is a decrease of eight percent year-over-year, with the company posting $595 million in revenue in Q1 2016.

Investors have piled the pressure on Twitter to grow its user base and the company has responded by moving to diversify its offering through new features including live video broadcasts.

Twitter shares jumped with Wednesday's filing, opening trading at $15.90 a share.

On a quarterly basis, Twitter added 9 million monthly users.

Of those hours, 51 percent were sports, 35 percent were news and politics, and 14 percent were entertainment, Twitter said.

Twitter's also had a problem with perma-stagnant user growth, with the number of monthly users hovering around the 310 - 320 million mark for the past year.

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Analysts say Twitter may even report a quarterly revenue decline Wednesday, a first since going public in 2013. The company also introduced an update that makes it easier for users to follow conversations and replies in late March. The company was also exploring sale options the previous year but the price tag was a bit high for most companies interested in buying it.

Twitter's advertising revenue plunged 11 percent to $474 million in the quarter, but came in above the average analyst estimate of $442.7 million, according to market research firm FactSet StreetAccount.

"We believe Twitter is the best place to drive brand perception, and we're continuing to showcase our unique value proposition for advertisers", said Anthony Noto, Twitter's COO, in the shareholder letter.

Trump's tweets haven't helped the company, Twitter has said.

Snap Inc, owner of the popular messaging app Snapchat, set a lower-than-expected valuation range on Thursday, amid mounting investor concern over its unproven business model, .

Adjusted earnings per share were 11 cents versus expectations of one cent.



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