Twitter ad revenue falls

Despite talk of a ‘Trump bump’ because of its status as the newly elected president’s favourite communication channel, ad revenue in the fourth quarter fell 0.5% year-on-year to £638m.

Although users grew 4% to 319 million, it was less than Wall Street estimates. Its Q4 2016 earnings were $717m and it achieved an overall revenue increase of 14% since 2015.

Jack Dorsey, its CEO, said to analysts: “It will take time to show the results we all wasn’t to see and we’re moving forward aggressively.”

Its share price fell by up to 10% following the announcement.