10 Updates

Twitter posts 1Q loss, higher revenue

Apr 29 2014, 4:30pm CDT | by

SAN FRANCISCO (AP) — Twitter booked a net loss in the first quarter because of stock compensation costs, but its results surpassed Wall Street's expectations thanks to a sharp increase...

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12 weeks ago

Twitter posts 1Q loss, higher revenue

Apr 29 2014, 4:30pm CDT | by

SAN FRANCISCO (AP) — Twitter booked a net loss in the first quarter because of stock compensation costs, but its results surpassed Wall Street's expectations thanks to a sharp increase in advertising revenue.

Investors were looking for stronger user growth from the short messaging service, however, and company's stock declined sharply in after-hours trading.

Twitter Inc. said Tuesday that it had a loss of $132.4 million, or 23 cents per share, in the January-March quarter. That compares with a loss of $27 million, or 21 cents per share, a year ago when Twitter was still privately held. Adjusted earnings were $183,000, or roughly breakeven on a per share basis.

Revenue more than doubled to $250 million from $114 million. Twitter's advertising revenue was $226 million, about 80 percent of which came from mobile advertising.

Analysts polled by FactSet had expected an adjusted loss of 3 cents per share on revenue of $241.5 million. Twitter's own forecast in February was for revenue between $230 million and $240 million.

Shares of San Francisco-based Twitter fell $4.09, or 9.6 percent, to $38.53 in after-hours trading after the results came out. The stock had closed up $1.89, or 4.6 percent, at $42.62.

Twitter went public last November. It had set a price of $26 per share for its stock, which then soared amid hungry investor demand. The high-flying stock peaked in December at $74.73, then declined steeply.

Twitter had 255 million monthly users at the end of March, up 25 percent from a year ago. That's just what Sterne Agee analyst Arvind Bhatia was expecting.

Twitter has said that it is focusing on expanding its audience and encouraging people who do use its short messaging service to use it more often, but the company has not been growing its user base as fast as its investors would like.

"Timeline views," which measure how often users refresh their own or someone else's Twitter feed, increased 15 percent in the quarter to 157 billion. Advertising revenue per thousand timeline views, another closely watched measurement, reached $1.44 in the first quarter, more than double the figure from a year ago.

Twitter gave a conservative revenue forecast for the current quarter and for all of 2014. The company expects revenue of $270 million to $280 million for the April-June period, compared with analysts' expectations of $273.3 million.

For the full year, Twitter expects revenue of $1.2 to $1.25 billion, compared with analysts' forecast of $1.24 billion.

 
Update
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan Ra ...
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Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken into by r ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected b ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Mini ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in the souther ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk Seri Mustapa Mo ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an al ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar Scheme 2014 ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Dama ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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