Twitter has reported revenues of $548m (£426m) for Q1 2017, down eight per cent year-over-year. That was driven by a drop in ad revenues, down 11 per cent to $474m.
In spite of that, the company managed to cut down the amount of money it lost during the quarter. It reported net losses of $62m – compared to $80m a year earlier, and $167m in the previous quarter.
Possibly more important for the company's long-term health, it saw not only a rise in users but – in the face of recent concerns that its growth is stagnating – an acceleration. It reports a 14 per cent year-on-year increase in daily active users (DAUs), compared to 11 per cent in Q4, seven per cent in Q3, and five per cent in Q2.
However, it's worth noting that Twitter has never shared hard figures for its DAUs – the only available number is monthly active users, up six per cent year-on-year to 328m in Q1.
"We're delivering on our goal to build a service that people love to use, every day, and we're encouraged by the audience growth momentum we saw in the first quarter” said Twitter CEO Jack Dorsey. "While we continue to face revenue headwinds, we believe that executing on our plan and growing our audience should result in positive revenue growth over the long term."
On the advertising side, ad engagements increased 139 per cent, however, cost per engagement dropped 63 per cent – good news for Twitter's advertisers, less so for the company itself.