Twitter’s sputtering user growth unnerves investors

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    Technology News

    A sign displays the Twitter logo on the front of the New York Stock Exchange ahead of the company's IPO in New YorkBy Gerry Shih SAN FRANCISCO (Reuters) – Twitter Inc on Wednesday reported its slowest pace of user growth in recent company history, dimming hopes that the social media phenomenon can sustain its torrid pace of expansion and wiping out nearly a fifth of the company's value in after-hours trading. Twitter, which held a highly anticipated initial public offering in November at $26 a share, has divided investor opinion in recent months, as shares raced to more than $66 ahead of Wednesday's results despite an absence of news. Twitter's valuation has been predicated in part on the belief it could expand its mainstream appeal and eventually become as ubiquitous as Facebook Inc, which has five times as many users. Twitter averaged 241 million monthly users in the December quarter, up just 3.8 percent from the previous three months – the lowest rate of quarter-on-quarter growth since Twitter began disclosing user figures.

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