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Twitter’s market value set to soar after strong results

30
Jul
2014

(Reuters) – Shares of Twitter Inc were set to soar on Wednesday as surprisingly strong user growth eased investor concerns that the popularity of the micro-messaging site was waning. Twitters user growth stagnated after it went public to much fanfare in November, leading to a management shake-up that included the exit of Chief Operating Officer Ali Rowghani. At that price, Twitter is valued at about $29 billion, or about $6 billion more than at Tuesdays close. Twitters monthly active users rose 24 percent to 271 million in the quarter ended June 30, more than expected, as it introduced product tweaks and services built around the soccer World Cup.

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