SAN FRANCISCO (AP) – Twitter’s losses are mounting as the messaging service struggles to grow its audience under recently hired CEO Jack Dorsey.
The challenges facing Dorsey came into sharper focus in a third-quarter report released Tuesday. The numbers covered the three months ending in September. That’s when Dorsey served as interim CEO before he was hired on a permanent basis.
Twitter ended the period with a core audience of 307 million active users, an increase of just 3 million from June. That wasn’t much better than a gain of 2 million users in the previous quarter, a letdown that led to the departure of Twitter’s previous CEO, Dick Costolo.
Revenue climbed 58 percent from last year to $569 million.
Twitter still lost $132 million. The company’s stock plunged 11 percent in extended trading.