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Social media network needs faster growth

Twitter boss Costolo looking for the right message

TwitterTwitter boss Dick Costolo continues to face pressure on Wall Street despite the social media network seeing a resumption of user growth after weakening in the last quarter. The upturn saw its shares rise 11%.

The company has lost a number of executives and analysts remain concerned at it ability to march the growth of big rival Facebook.

It beat Wall Street targets but chief executive Costolo said a number of factors, such as the launch of Apple’s new mobile operating system, slowed new user additions in the fourth quarter.

Some analysts remain to be convinced that it can scale up on a par with Facebook, the biggest social media network with 1.4 billion users.

Instagram, the photo-sharing app owned by Facebook, is growing at a faster rate and now has a larger user base than Twitter.

Twitter said revenue in the quarter ended 31 December rose to $479 million against $243 million in the previous year. But it has already warned that it will not make a profit for some years and posted a net loss of $125 million in the fourth quarter.

The company continues to innovate, with new features designed to make it easier to use, retain the loyalty of existing users and gain new ones.

 

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