NEW YORK — Investors clipped the wings of Twitter’s high-flying stock Wednesday, sending shares down as much as 13 percent in after-hours trading after the company reported weak user growth in the fourth quarter, and forecast slower revenue and profit gains in 2014.
The microblogging company said revenue for the quarter, which ended Dec. 31, was $243 million, up 116 percent from $112 million in the fourth quarter of 2012.
Twitter reported a loss of $511 million, compared with an $8.7 million loss a year ago.
However, using a closely watched measure of income that excludes stock-based compensation and other expenses, the company reported a profit of $9.7 million, or 2 cents a share, in the quarter, compared with a loss of $271,000 a year ago.
Twitter beat Wall Street expectations for revenue and profit in the fourth quarter. Analysts had expected the company to report a fourth-quarter loss of 2 cents a share and revenue of $218 million.
The company said it expected first-quarter revenue of $230 million to $240 million. For the full year, it expects revenue of $1.15 billion to $1.2 billion, nearly double the $665 million it posted in 2013.
Shares closed at $65.55 in regular trading Wednesday, down 1 percent .
The microblogging company said revenue for the quarter, which ended Dec. 31, was $243 million, up 116 percent from $112 million in the fourth quarter of 2012.
Twitter reported a loss of $511 million, compared with an $8.7 million loss a year ago.
However, using a closely watched measure of income that excludes stock-based compensation and other expenses, the company reported a profit of $9.7 million, or 2 cents a share, in the quarter, compared with a loss of $271,000 a year ago.
Twitter beat Wall Street expectations for revenue and profit in the fourth quarter. Analysts had expected the company to report a fourth-quarter loss of 2 cents a share and revenue of $218 million.
The company said it expected first-quarter revenue of $230 million to $240 million. For the full year, it expects revenue of $1.15 billion to $1.2 billion, nearly double the $665 million it posted in 2013.
Shares closed at $65.55 in regular trading Wednesday, down 1 percent .
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