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| Twitter shares drop on slowing user growth | |
| (35 minutes later) | |
| Shares of Twitter fell in after-hours trading as the company's quarterly results showed user growth faltering. | Shares of Twitter fell in after-hours trading as the company's quarterly results showed user growth faltering. |
| Twitter reported a net loss of $90m (£62m) for the last three months of 2015 versus a loss of $125m a year ago. | |
| The social media site saw its user growth stall, with 320 million average monthly active users - the same number as the previous quarter. | |
| Revenue for the quarter rose by 48% to $710m compared to the fourth quarter of 2014, matching analysts' expectations. | Revenue for the quarter rose by 48% to $710m compared to the fourth quarter of 2014, matching analysts' expectations. |
| Rival social media sites like Facebook and Instagram have seen their user bases grow. | |
| Investors had been anticipating the announcement of major changes to Twitter's product offerings to increase the user base. | |
| The company announced earlier on Wednesday that it would be introducing a new feature that shows the best tweets at the top of a user's feed, rather than showing tweets in reverse chronological order. | |
| Twitter shares have more than halved since its chief executive Jack Dorsey - one of the site's founders - returned to Twitter in July. | |
| On a call with investors, Mr Dorsey said the company was focused on increasing their use for 'live' events. |