Twitter has revealed it gained more than 14 million monthly active users in its latest earning report covering the first quarter of 2014.
A revenue of $250m, with $226m made through companies using the platform for social media marketing and advertising, was also posted by the popular micro-blogging site.
The growth in users and revenue were some of the only positives for the social media giant in an otherwise gloomy report showing stock levels were at their lowest since the company’s flotation and a net loss of $132m (£72m).
The 3.8% rise in user growth compared with the previous quarter was unable to combat the stocks falling 11% to below the $38.80 price per share of its initial public offering.
Twitter had actually had somewhat of a slump in user growth with four consecutive quarters of declining growth up until the latest rise. At present it has a total of 255 million users, compared to Facebook’s 1.28 billion users, and the now Facebook owned Whasapp, which recently passed the 500 million user milestone.
Twitter chief executive, Dick Costolo, said: “We had a very strong first quarter. Revenue growth accelerated on a year over year basis fuelled by increased engagement and user growth.”
Mobile users in particular were singled out by Costolo as a significant factor in the firm’s progress.
He added: “We also continue to rapidly increase our reach and scale. With the integration of MoPub, we now reach more than 1 billion iOS and Android users each month, making us one of the largest in-app mobile ad exchanges in the world and the only one at scale to offer native in-app advertising.”
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