Twitter investors were presented with an enthusiastic earnings report from CEO Dick Costolo yesterday in which he highlighted how the company managed to more than double its revenue last year to $1.4 billion. He was also happy to point out that Twitter’s various investments and product updates have started to improve the company’s user growth.
Twitter CEO Dick Costolo was full of renewed brio today as he reported the company’s fourth quarter and end-of-year 2014 earnings. “We closed out the year with our business advancing at a great pace,” Costolo told investors, highlighting speedy execution and revenues that more than doubled to $1.4 billion in 2014. “The recent cadence of product launches are making Twitter better for new users, current users, and developers.” Plus, he signaled that the company’s recent product updates have begun to pay off in terms of user growth, which has been a sore spot with investors for nearly a year. “The trend thus far in Q1 leads us to believe that the absolute number of net users added in Q1 will be similar to what we saw during the first three quarters of 2014,” when the company net 13-16 million additional monthly active users per three-month period, Costolo said.
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