Comment
0
Tweet
0
Print
RSS Feeds

Twitter falls to lowest point since going public

Thursday - 5/1/2014, 11:30am  ET

Trader Steven Kaplan, right, works at the post that handles Twitter, on the floor of the New York Stock Exchange, Wednesday, April 30, 2014. Shares of Twitter dropped in morning trading Wednesday to their lowest point since the company went public in November. Investor concern remains over the short messaging service's ability to keep adding users and keep existing users engaged. (AP Photo)

NEW YORK (AP) -- Shares of Twitter dropped in morning trading Wednesday to their lowest point since the company went public in November. Investor concern remains over the short messaging service's ability to keep adding users and keep existing users engaged.

Twitter has said it is focusing on expanding its audience and encouraging people who do use its service to use it more often. But the San Francisco company has not been expanding its user base as quickly as its investors would like.

Twitter had 255 million monthly users at March's end, up 25 percent from a year ago.

Late Tuesday the company reported first-quarter adjusted earnings and revenue that topped Wall Street expectations.

Shares of Twitter Inc. declined $5.23, or 12.3 percent, to $37.39 in morning trading. Earlier, it slipped to $37.24.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.