Twitter doubled third quarter revenues to $361 million and showed its first profit of a penny per share, but slow growth in its user base was causing a serious decline in its stock value this morning.
Less than 24 hours after a Twitter earnings call in which the company reported less than 5% growth in its user base to 284 million, Wall Street had driven down its stock price by some 13% to around $42.
In a call with financial analysts to discuss the results yesterday, Twitter CEO Dick Costolo admitted that growing the user base remained a priority. “We have to continue to grow our monthly active users and make it increasingly a daily use case for them,” he said.
To that end, the social network reported that it saw an 83% increase in profile impression on iOS with an increased focus on bios, tweets, and photos during the quarter. It also noted that it looked for user growth in the current quarter from new features in its NFL Timeline and the introduction of a new camera for the Vine app that makes it easier to convert videos to Vines.