Twitter Stock Falls 10% As Ad Spend Declines

Twitter has reported a return to user growth but its shares fell up to 10% in after-hours trading after its first quarter results showed that spending by advertisers had declined.

The social network's revenue for the three months to March rose 36% on a year earlier to $594.5m but that figure was at the bottom end of its previous guidance.

Twitter said it had 310 million average monthly active users at the end of the period, compared with 305 million in the fourth quarter when numbers were actually down.

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