Twitter advertising revenues again climbed more than 100% in the last fiscal quarter, but news of a slow down in new subscriber numbers plunged its share price by more than 10% in the US last night.
Global advertising revenues on the service were up 109% year-on-year to US$320 million. It represents a slight fall on the previous quarter's gains, where advertising soared by 129%. Mobile advertising accounted for 85% of the income.
Of more concern to investors was the reported slowing in new users: average monthly active users increased year-on-year by 23% to 284 million, but were up only 5% on the previous sequential quarter, marking the second time that user growth has declined.
Revenues for the three months to the end of September were up 114% to $361m year-on-year, while Twitter reports a net loss for the same period of US$175m.
Twitter today unveiled its mooted Flight School in Australia - an online tool which assists agencies to maximise the benefits of using the platform. Originally launched in the US in August, it initially goes live with four local agency partners: Carat, Mindshare, OMD and Starcom.
Globally in the last three months it has rolled out a 'promoted video' beta, which streamlines video playback and brings a one tap viewing experience to users’ timelines, plus a test of the 'buy' button, allowing users to complete an entire purchase directly from a tweet. International expansion of Twitter Ads continued into 12 additional markets.
Twitter accounted for 0.5% of global digital ad revenues in 2013, according to eMarketer. Meanwhile, Facebook, which reports its quarterly results tomorrow, is expected to increase its share of the worldwide digital ad market from 5.8% in 2013 to 8% this year. Projections from eMarketer in the US say Twitter ad revenues could reach $1.33 billion in 2015.
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