San Francisco – Twitter reported a net loss of $144.6 million in the second quarter of fiscal 2014, up from $42.2 million in the same period a year earlier. Stock compensation drove the increase in net loss.
Revenue more than doubled to $312.17 million from $139.29 million. In Twitter-specific metrics, average monthly users grew 24% to 271 million. Seventy-eight percent those users were mobile, a 29% increase from the same period a year earlier.
"Our strong financial and operating results for the second quarter show the continued momentum of our business," said Dick Costolo, CEO of Twitter. "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."