SAN FRANCISCO (AP) – Twitter set out to build a virtual town square bustling with billions of people. But it’s starting to look more like a novelty stand as social-media users flock to other services that strike a more personal chord.
The company’s reported no user growth at all in the fourth quarter, the clearest signal yet that the one-time trendsetter is struggling to remain relevant. That leaves it with 320 million monthly users – roughly one-fifth the size of Facebook.
Twitter lost another $90 million during the final three months of last year, preserving its profitless history. The lackluster performance disappointed already disillusioned investors. Twitter’s stock sank nearly 7 percent in extended trading. If the shares trade similarly in Thursday’s regular session, it will mark a new low.