DHAKA:  Online social networking and microblogging website Twitter reported better-than-expected second-quarter earnings on Tuesday, showing both revenue and user growth.

The social media service reported that it now has 271 million monthly active users, a 6% quarterly increase and a 24% yearly increase. 

Revenue of $312 million was up 124% from the $139 million seen in the same quarter last year. Analysts surveyed by Thomson Reuters had been predicting $283 million in revenue.

The firm reported a net loss of $144.6 million, or 24 cents a share, for the second quarter, up from a net loss of $42.2 million in the same period in 2013. Adjusted earnings of 2 cents a share topped expectations of a loss of a penny a share

The upbeat earnings news comes after a tumultuous few months in which Twitter replaced its CFO and COO amid other personnel moves.

“Our strong financial and operating results for the second quarter show the continued momentum of our business,” said Twitter CEO Dick Costolo in a press release accompanying the earnings.

“We remain focused on driving increased user growth and engagement, and by developing new product experiences, like the one we built around the World Cup, we believe we can extend Twitter’s appeal to an even broader audience.”

The growth numbers are particularly encouraging after Twitter made a major push to attract new users around the World Cup, including features like a starter kit for those interested in following news and soccer stars on the platform.

Sources: Fox Business, Mashable

BDST: 1115 HRS, JUL 30, 2014