UK markets closed

Fall in fourth-quarterly earnings for Twitter but user numbers rise

By Associated Press Reporter

Twitter has reported that its fourth-quarter net earnings fell to 119 million US dollars (£92 million) from 255 million (£197 million) in the same period a year earlier.

The San Francisco-based tech company said it had net income of 15 cents per share.

Earnings, adjusted for one-time gains and costs, were 17 cents per share.

The logo of social networking website Twitter is seen displayed on the screen of an iPhone smartphone (Dominic Lipinski/PA)

The short messaging service posted revenue of 1.01 billion US dollars (£780 million) in the period, 11% higher than a year ago.

For the whole year, Twitter posted net income of 1.47 billion US dollars (£1.13bn) on revenue of 3.46 billion US dollars (£2.67bn)

The company had 152 million daily users in the latest quarter, up from 145 million in the previous quarter.