San Francisco – Stock compensation expenses helped produce a net loss of $132.4 million at Twitter Inc. during the first quarter of 2014, compared to a net loss of $27 million in the same quarter of the previous year. Twitter attributed part of the net loss to $126 million in stock compensation expense.
Revenue more than doubled to $250.49 million from $115.34 million. For the second quarter, Twitter projected revenue of $270 to $280 million, and also projected revenue of $1.2 to $1.25 billion. Twitter CEO Dick Costolo cited growth in engagement and users as helping to boost revenue.
"We had a very strong first quarter,” said Costolo. “Revenue growth accelerated on a year over year basis fueled by increased engagement and user growth/ We also continue to rapidly increase our reach and scale. With the integration of MoPub, we now reach more than 1 billion iOS and Android users each month, making us one of the largest in-app mobile ad exchanges in the world and the only one at scale to offer native in-app advertising."