In its first ever public quarterly earnings report, Twitter posted $242.7 million in revenue and a net loss of $511 million, beating expectations.
The company now has 241 million users, which is only 9 million more users than it had in September.
Twitter’s main advertising products are Promoted Tweets, Promoted Accounts, and Promoted Trending Topics, but it has begun to target local audiences and television viewers with new products. “I think Twitter is still looking to find out whether Promoted Tweets can be that kind of basic power house,” Forrester analyst Nate Elliott told Fast Company earlier this week, “whether that is the ad unit that can allow it to form a strong foundation and start looking for other creative ways to offer marketers value.”
One of the struggles in attracting new users to Twitter has been that it is often difficult for newcomers to understand how to use. CEO Dick Costolo said back in November that he would work on improving the new user experience, and recent changes to the product–like threaded conversations–seem to be an effort toward that goal.SK