Twitter revenues have declined for the first time as was posted by The Guardian on Wednesday. The primary reason being given for this is the falling away of advertisers. The shares of the company however are still on the rise as the number of users keeps increasing.
Twitter is the social media platform known to be favored by celebrities, politicians and journalists.
While the company reported an 8 percent decline in the revenue to $548 million, its shares rose by more than 10 percent on Wednesday to $16.14.
Co-founder and CEO of Twitter, Jack Dorsey said that the number of active daily users for Twitter had increased for the fourth consecutive quarter. On a year over year basis, the number of active Twitter users is 14 percent higher than the number at this time last year.
The advertising revenue for the firm however has reportedly fallen by 11 percent to $474 million.
Dorsey said that the execution of their plan and growing audiences will allow the company to achieve positive revenue growth over long term.
It is important to note that the company made a net quarterly loss of $63 million which is an improvement on $80 million loss in the same quarter last year and is also much better than the $167 million loss that the company posted last quarter.