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NEW YORK — Investors clipped the wings of Twitter’s high-flying stock Wednesday, sending shares down as much as 13 percent in after-hours trading after the company reported weak user growth in the fourth quarter, and forecast slower revenue and profit gains in 2014.
The microblogging company said revenue for the quarter, which ended Dec. 31, was $243 million, up 116 percent from $112 million in the fourth quarter of 2012.
Twitter reported a net loss of $511 million, compared with an $8.7 million loss a year ago.
However, using a closely watched measure of income that excludes stock-based compensation and other expenses, the company reported a profit of $9.7 million, or 2 cents a share, in the quarter, compared with a loss of $271,000 a year ago.