Twitter reports widening losses

Social micro-blogging service Twitter reported a loss of $145m (£86m) during the second-quarter period from March to June.


That is triple the loss the company reported during the same period a year ago.


Twitter said it had 271 million monthly users - up 24% from a year ago - allaying investor fears that the service is not growing fast enough.


Shares in the firm soared over 26% in after-hours trading.


"Our strong financial and operating results for the second quarter show the continued momentum of our business," said chief executive Dick Costolo in a statement, noting Twitter's strong user figures during the World Cup.






James Potter