Twitter Inc reported lackluster user and usage growth for the second consecutive quarter on Tuesday, deepening investor concerns about its struggle to gain a mass following.
Twitter's stock fell more than 10 percent after hours to $38.05, below its post-initial public offering low of $38.80 on November 25.
Perhaps most worrying, the San Francisco-based company said its 255 million monthly users, on average, appeared to check the service less frequently than a year ago.
The results revealed slowing momentum at a company that exuberant investors just six months ago had argued could one day match Facebook Inc's scale. At its peak in December, Twitter enjoyed a $46 billion market capitalization on just $665 million of revenue in 2013, making it one of the world's priciest stocks.
Source: Reuters
