Twitter revenue nearly doubles, user growth misses mark

(MENAFN- AFP) Twitter on Thursday reported its revenue nearly doubled in the final three months of last year, but user growth fell short of analyst expectations.

"We closed out the year with our business advancing at a great pace," said Twitter chief executive Dick Costolo.

Revenue hit $479 million in the fourth quarter, up 97 percent from $242.6 million in the same period a year ago.

Its quarterly loss shrank to $125 million, as compared with a $511 million loss a year ago.

The number of active monthly users of the San Francisco-based one-to-many messaging service monthly grew to 288 million -- just four million more than in the previous quarter.

That figure fell short of expectations -- analysts had predicted the figure would climb to 292 million.

About 80 percent of the people using Twitter monthly connected with the service using mobile devices.

Twitter shares were up more than seven percent to $44.38 in after-market trades that followed the release of the earnings figures.