Twitter beat Wall Street's earnings and revenue expectations in its first quarter as a public company. But investors were looking for even more—including more user growth—and the company's stock dipped as much as 12% in after-hours trading today. Twitter ended the quarter with 241 million monthly users. And while that's up 30% from a year earlier, it's fewer than most analysts expected and down from a growth rate of 39% in the previous period, reports Bloomberg.
"Worse, timeline views (a measure of how engaged users are with Twitter) actually declined sequentially," notes Business Insider. That offset the better news: that revenue more than doubled to $243 million from $112 million, beating expectations of $218 million. Twitter reported a loss of $511 million, or $1.41 per share, in the October-December quarter. That compares with a loss of $8.7 million, or 7 cents per share, a year earlier. Adjusted earnings were 2 cents per share. The stock closed at about $66 today but was down to $54 this evening.