Twitter Stock Price: Twitter Adds Nine Million New Users, But Revenue Growth Lacking

In its first-quarter letter to shareholders Wednesday, Twitter reported that it managed to beat investor expectations in several areas.

Notably, the social media service surpassed user growth expectations for the quarter, adding an additional nine million users to an average active monthly user base of 328 million accounts. Twitter credits the growth in users to stronger marketing, seasonal interest and product improvements like its revamped timeline.

Read: Users, Growth And Revenue To Factor Heavily For Twitter Earnings

Twitter’s revenue trends also beat investor expectations, though in a slightly negative fashion. While the company reported an eight percent drop in year-over-year revenue growth, investors were expecting a larger decline for the quarter. Twitter also reported quarterly revenue of $548 million.

In its letter, Twitter acknowledged its continuing work to curb user abuse and harassment on the platform. The social media service rolled out several updates aimed at making it easier to remove abusive accounts and said it has seen a general decline in the number of abuse reports issued by users.

Twitter shares jumped with Wednesday’s filing, opening trading at $15.90 a share.

Read: Twitter Plans To Broadcast Live Video Programming 24/7

Elsewhere, Twitter further emphasized its focus on live video content, describing it as a tool “to drive conversation, connection and engagement.” While the networking service lost its NFL streaming deal to Amazon for the coming NFL season, Twitter expects live video to be a pillar of its content offerings for users this year. Twitter touted that it had streamed more than 800 hours of live video content during the quarter via providers ranging from Billboard to the NHL.