(Feb 9): Investors hammered Twitter Inc on Thursday after the social network reported its slowest quarterly revenue growth since going public in 2013, struggling to attract advertisers amid intense competition from Snap Inc's Snapchat and Facebook Inc. Revenue from advertising declined year-over-year to US$638 million, and the company warned that ad revenue growth would continue to lag audience growth during 2017. "Advertising revenue growth may be further impacted by escalating competition for digital ad spending and Twitter's re-evaluation of its revenue product feature portfolio, which could result in the de-emphasis of certain product features," the company said. "While revenue growth continues to lag audience growth, we are applying the same focused approach that drove audience growth to our revenue product portfolio," Chief Executive Jack Dorsey said in a statement. The user base increased 4% in the fourth quarter to 319 million average monthly active users, Twitter said.

Source: The Edge Markets February 09, 2017 14:15 UTC