The shares of the
Despite higher user growth than the previous quarter, when Twitter saw just a 3.8 percent rise, the rate was below expectations of many analysts..
Twitter, which allows people to post messages 140 characters at a time, said it revenues more than doubled to
The increase in revenue was "fuelled by increased engagement and user growth", said
The integration of advertising management software MoPub had helped Twitter "reach more than 1 billion iOS and Android users each month", he stated.
The social network may have made a dazzling stock market debut last November with its stock soaring from
A series of changes to its service, with greater emphasis on pictures and video and changing profiles to more closely resemble those of
Costolo said the number of tweets people had added to their favourites or re-tweeted were up 26 percent.
He has expressed confidence that the changes would drive up growth and usage of the service.
Responding to the criticism of
He cited numerous studies to illustrate a close relationship between Twitter and TV usage.
Twitter is not alone in facing slowing growth problems. The pace at which
The largest social network now counts over 1billion people as monthly active users. At 255million, Twitter is in danger of being caught by the fast growing, and
"If you don't have an audience, you don't have a business," he said.
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