Belfast Telegraph

£133m loss at Twitter after revenue blow

By Kalyeena Makortoff

Twitter has warned that its advertising sales will continue to lag due to competition after earnings missed forecasts for the final three months of the year.

The social media giant reported a 1% increase in revenues to $717m (£571m) in the three months to December 31, but markets had pencilled in $740m (£589m).

Twitter said it expected advertising revenue growth to continue to drag behind audience growth in the year ahead.

"Advertising revenue growth may be further impacted by escalating competition for digital ad spending and Twitter's re-evaluation of its revenue product feature portfolio, which could result in the de-emphasis of certain product features," the company added.

Net losses ballooned to $167m (£133m) in the fourth quarter, compared with $90m (£76m) for the first quarter. But on an annual basis, that number dropped from $521m (£415m) in 2015 to $456.8m (£363.8m).

Belfast Telegraph