Twitter: Shares soar as revenue doubles

Comment on this story

TWITTER chief executive Dick Costolo is getting the company back on track with Wall Street by drawing people to use the service more, sending shares soaring more than 29 percent in early trading yesterday. The microblogging company on Tuesday reported revenue more than doubled to $312.2 million (R3.3 billion) in the second quarter and user growth, buoyed by World Cup-related demand, jumped 24 percent, topping analysts’ estimates. While the net loss widened to $144.6m, Twitter forecast sales for the current quarter that exceeded estimates and raised its full-year guidance. Shares jumped as high as $49.95 before the markets opened yesterday. – Bloomberg

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines