Twitter Suffers Losses In Last Quarter Of 2013

Investors had expected much more

Twitter surpassed earnings expectations of Wall Street and income in its first quarter trading in stock market. But investors expected much more growth-including user-and company shares plummeted to 12% in after-hours trading Wednesday.

Twitter reported a loss of $ 511 million, or $ 1.41 per share, in the quarter from October to December 2013. That compares with a loss of $ 8.7 million, or seven cents per share, a year earlier. Once adjusted earnings were of two cents per share, said The Associated Press.

Twitter’s revenues increased by more than twice the $ 112 million to 243 million.

Facts Set said that analysts had forecast an adjusted loss of two cents per share on revenue of 218.1 million dollars.