29th Apr // 2015
It must be great to manage a company where a 74% increase in revenue to over $400 million in Q1 is seen as a negative result, but that's the coverage Twitter's latest quarterly results have been receiving.
The social network giants' Q1 performance report was leaked ahead of schedule, which was the confirmed by the California based business.
With an 18% increase in monthly users to 302 million, Twitter recorded $436 million in revenue in Q1, an increase of 74%. This was however short of analyst expectations of a $457 million intake.
Revenue for Q2 has been revised down, with around $480 million – down from market projections in the region of $538 million.
Dick Costolo, Twitter Chief Executive said: “Revenue growth fell slightly short of our expectations due to lower-than-expected contribution from some of our newer direct response products.”
The revenue that has been generated was predominantly from in-site advertising which accounted for $388 million, representing a 72% increase on Q1 2014.
The social network has taken steps to make itself more visible in search results to help grow things further however, with a new partnership and agreement with Google making Twitter content easier to find in search results.