Twitter has released its Q2 2014 results, and the user numbers make for particularly healthy reading, giving investors renewed confidence in the potential of the social network going forward.
The financial report showed that revenue more than doubled to $312 million (£184 million) compared to the same quarter last year, but that said, the company still made a net loss of $145 million (£85 million) – far more than the $42 million (£25 million) loss incurred the previous year. However, this quarter's loss did include $158 million (£93 million) of stock-based compensation expense, Twitter noted in a statement.
The real good news for CEO Dick Costolo was that monthly active user numbers were up by 24 per cent year-on-year to 271 million. Mobile users hit 211 million, too, up 29 per cent (and meaning that almost four out of five tweeters are on a mobile device).
Timeline views were up 15 per cent to 173 billion, and ad revenue per thousand timeline views doubled to $1.60 (£0.95).
Costolo enthused: "Our strong financial and operating results for the second quarter show the continued momentum of our business. 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."
This year, Twitter stock has taken quite a battering with concerns that its appeal was wearing off, but the fresh boost to user numbers and solid fiscal results drove investor confidence, and the firm's share price has shot up by around 30 per cent.