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Twitter tumbles after user base shrinks

WASHINGTON: Twitter shares took a beating Friday as quarterly results showed a drop in users of the messaging platform, overshadowing news of a third straight quarterly profit. Twitter said it posted a profit of $100 million in the second quarter as revenue rose 24 percent to $711 million. But the San Franscisco-based firm said its base of monthly active users fell by one million from the past quarter to 335 million in the period amid a purge of fake accounts and a crackdown on "bots" that manipulate the platform.…

Facebook reaches 2 billion users as revenue jumps

CALIFORNIA: Facebook on Wednesday reported that its quarterly profit surged as its ranks of monthly users closed in on two billion, but warned of rising expenses and slowing revenue growth. The leading social network said it made a profit of $3.06 billion on $8.03 billion in revenue in the first three months of this year, posting increases of 76 percent and 49 percent, respectively, compared to the same period last year. Meanwhile, the number of people using Facebook monthly increased 17 percent to 1.94 billion,…

Twitter woes deepen as user base fails to grow

SAN FRANCISCO: Twitter's woes deepened Wednesday as the struggling messaging platform said it failed to add users in the past quarter, adding to concerns it is lagging in the fast-moving world of social networks.