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Twitter Plunges: Q1 Live Blog

 

NEW YORK (TheStreet) -- Twitter (TWTR - Get Report) reported first-quarter earnings after the close, and Wall Street continues to look unhappy with the company's improvements to add users.

For the first quarter, Twitter posted breakeven results on $250.49 million in revenue, as advertising revenue surged 125% year over year to $226 million. The company said mobile advertising revenue was approximately 80% of total advertising revenue, while data licensing and other revenue totaled $24 million, an increase of 76% year-over-year.

Analysts surveyed by Thomson Reuters were expecting the San Francisco-based Twitter to lose 3 cents a share on $241.47 million in revenue.

The company reached 198 million mobile monthly active users during the quarter, up 31% year-over-year. Timeline views reached 157 billion for the first quarter of 2014, an increase of 15% year-over-year, and advertising revenue per thousand timeline views reached $1.44 in the first quarter of 2014, an increase of 96% year-over-year.

"We had a very strong first quarter. Revenue growth accelerated on a year over year basis fueled by increased engagement and user growth," said Dick Costolo, CEO of Twitter in the press release. "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."
--Written by Chris Ciaccia in New York

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