Twitter adds 13 million active users, generates $361 million revenue in Q3 2014

Twitter adds 13 million active users, generates $361 million revenue in Q3 2014

Twitter has beat analyst estimates by announcing the generation of $361 million revenue in its financial results for the third quarter of 2014. Though the revenue figure is quite higher than the estimated figure of $351 million by the Wall Street analysts, the microblogging network has not impressed the market by its user base of 284 million monthly active users through adding 13 million users in the third quarter.

Twitter announced that it generated $361 million quarterly revenue in the third quarter, up 114 percent year-over-year, which resulted $0.01 earning per share on a non-GAAP basis. The company posted net loss of $175 million but earned non-GAAP income of $7 million.

On the operational front, Twitter added 13 million monthly active users in the third quarter which resulted an increase of 23 percent year-over-year in the total figure of 284 million. The company said that its mobile monthly active users in the third quarter represented 80 percent of total monthly active users.

Twitter’s timeline views reached 181 billion in the third quarter, up 14 percent year-over-year, and advertisement revenue per thousand timeline views reached $1.77.

Twitter acquired payments infrastructure company CardSpring, mobile retargeting and re-engagement company TapCommerce and video editing and distribution platform Snappy TV during the third quarter. These new acquisitions would help the microblogging network to expand its offerings in the coming months.

On announcing the financial results for the third quarter, Dick Costolo, CEO of Twitter, said:

“We had another very strong financial quarter. I’m confident in our ability to build the largest daily audience in the world, over time, by strengthening the core, reducing barriers to consumption and building new apps and services.”

Twitter forecast to generate quarterly revenue between $440 million to $450 million in the fourth quarter with capital expenditure in the range of $120 million to $150 million and stock-based compensation expense between $175 million to $185 million.

Categories: Internet