Feb 05, 2014
By Michael Kramer
Twitter beat Wall Street’s sales and profit forecasts, but shares fell 13 per cent in after-hours trading on concerns about the company’s growth potential.
Shares dropped to $57.02 on the news. Twitter reported monthly active users at 241 million, a 30 per cent year-over-year increase, but well below expectations.
The company reported $9.8 million in net income, or $0.02 per share, on $243 million in revenue.
Shares of Twitter have seen a 47% run-up in trading since the company went public November 7.