Currency Converter

Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).

From:
To:
 

SBD Global/July 31, 2014/Finance

Twitter Reports World Cup Helped Revenue Rise 124% To $312M In Second Quarter

A "surge in user activity during the World Cup and the launch of products designed to attract advertising helped Twitter to report a spectacular rise in revenues" on Tuesday night, according to Alexandra Frean of the LONDON TIMES. Shares in the "microblogging company soared" 31% to $50.70 in after-hours trading in N.Y. as it was revealed that revenue rose by 124% to $312.2M in the quarter to June 30 -- "significantly stronger" than the $283.1M expected by analysts. Its "losses widened, though," to $144.6M from $42.2M last year. The number of active monthly users "also exceeded analyst expectations, rising by 16 million to 271 million." Twitter experienced a "huge surge in use during the World Cup, recording 672 million tweets over the 32 days of the tournament, which spanned June and July." The effects of this activity are expected to "spill over into the third quarter, which will include the July figures" (LONDON TIMES, 7/30).
Return to top

Related Topics:

Finance

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug