Social network Twitter has announced increased first quarter revenues, along with profit losses and an increase in monthly users.
Twitter CEO Dick Costolo said that the quarter was a strong one, but the market reacted differently and stock in the firm dropped by 11 percent. The first quarter results include revenue of $250m, an increase of 119 percent, but an overall loss of $132m.
"We had a very strong first quarter. Revenue growth accelerated on a year over year basis fuelled by increased engagement and user growth," said Costolo.
"We also continue to rapidly increase our reach and scale. With the integration of MoPub, we now reach more than one billion iOS and Android users each month, making us one of the largest in-app mobile ad exchanges in the world and the only one at scale to offer native in-app advertising."
The firm said that monthly users have increased by a quarter over the three month period, when compared against the previous year. Advertising revenue grew by 125 percent year-over-year to $226m.
Money came in from other sources too, and the remainder of the $250m in revenues, $24m, came to Twitter via data licensing, an increase of 76 percent year-over-year. Twitter said that it now has 255 million actual monthly users.
Twitter has gone through a transitionary period recently and has overhauled its user profile pages to make them more socially appealing.
The new look went live last week and Twitter designer David Bellona said that users should expect a much more personalised experience. In a blog post he said: "Your Twitter profile shows the world who you are. We look forward to seeing what that means to you."
The firm granted high profile users, including Michelle Obama early access to the new feature.
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