FILE – In this Monday, Nov. 4, 2013, file photo, an updated phone post on the floor of the New York Stock Exchange features a Twitter logo, in New York. Twitter Inc. reports quarterly earnings on Wednesday, Feb. 5, 2014. (AP Photo/Richard Drew)
NEW YORK (AP) — Twitter beat Wall Street’s earnings and revenue expectations in its first quarter as a public company. But investors were looking for more — including faster user growth — and the company’s stock fell more than 17 percent in after-hours trading Wednesday.
Twitter’s shares fell $11.37, or 17.2 percent, to $54.59 in extended trading after the results came out. The stock, which peaked at $74.73 on Dec. 26, closed Wednesday’s regular trading session at $65.97.
Twitter ended the final quarter of 2013 with 241 million monthly users, up 30 percent from a year earlier. But Twitter’s growth is slowing. The company added just 9 million new monthly users in the fourth quarter, only 1 million of which came from the U.S. That’s a deceleration from earlier in the year, when the company was adding an Login to read more