Twitter has announced financial results for Q1 2016. The micro blogging site has recorded $602 million in revenue, up 20% year-over year.
Twitter user base increased about 1 percent to 313 million average monthly active users in the second quarter from 310 million in the first quarter. This means it added 3 million new users. Twitter has been striving to improve the user experience on its platform in order to garner more users after several quarters of stagnant user growth. Mobile MAUs represented 82% of total MAUs.
It also reported a Q2 GAAP net loss of $107 million; non-GAAP net income was $93 million. Advertising revenue totaled $535 million, an increase of 18% yearover-year. Mobile advertising revenue was 89% of total advertising revenue. Twitter shared revenue guidance for Q3 – $590 million to $610 million, versus $681.4 million expected by analysts.