Twitter quarterly revenue growth lowest since IPO

SAN FR A NCISCO/BE NGA LU RU • Twitter Inc. reported its slowest growth in quarterly revenue since going public in 2013 and disappointed investors yet again with a lowered outlook for the current quarter.

The microblogging service operator’s shares fell 10 per cent in extended trading with investors concerned about its expansion and role in the social media landscape as it faces intense com- petition from competitors such as Snapchat and Facebook Inc.’s Instagram.

Second-quarter revenue missed estimates and the forecast for the current quarter of US$590 million to US$610 million was well below the average analyst estimate of US$678.18 million. Twitter’s user base, however, increased to 313 million average monthly active users in the second quarter from 310 million in the first quarter.

“Clearly, the turnaround is still a work in progress and the question of whether being a platform for a mass