Twitter reports low revenue on new product weak salesApril 29, 2015 - 11:49 AMT PanARMENIAN.Net - Twitter has reported lower than expected revenue for the first three months of the year, saying that new products sold less well than forecast, BBC News reports. The micro blogging firm warned that it expected the negative impact on its revenue to continue for the rest of the financial year. "It is still early days for these products," said Twitter chief executive Dick Costolo. The firm reported revenues of $436mln, up 74% year-on-year, but below forecasts. It also reported a net loss of $162mln, an increase from the same period a year ago when it lost $132.4mln. However, monthly users of the service increased 18% year-on-year, totaling 302 million for the first quarter. Costolo said the firm remained confident in the firm's "long-term opportunity". "We have a strong pipeline that we believe will drive increased value for direct response advertisers in the future," he added. Twitter also said it was buying marketing technology firm TellApart, and announced a deal with Google to improve its advertising performance measurement. The firm said it expected revenue for the full year to be between $2.17bn to $2.27bn, lower than the $2.3bn to 2.35bn range it forecast in December. Shares fell 18% after the results were released earlier than expected and before U.S. markets closed. Related links: Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Power of One Dram to benefit Road of Life, Strong Mind IDBank and Idram summarize the results of the May program of “The Power of One Dram”. Yerevan State University, Ucom sign Memorandum of Cooperation Rector of Yerevan State University Hovhannes Hovhannisyan and General Director of Ucom Ralph Yirikian signed the memorandum. EU to provide budgetary support to Armenia The agreement is aimed at increasing the competitiveness of the educational system of Armenia. Aliyev: No peace treaty unless Armenia changes constitution Azerbaijan will not sign a peace treaty with Armenia unless the latter changes its constitution, Azerbaijani President Ilham Aliyev said. |