Twitter tumbles 20% after revealing $645m loss

Shares in Twitter have fallen 20% in pre-market trading after it reported a net loss of $645m (£396m) for 2013, just three months after flotation.

The loss was expected by analysts, who highlighted Twitter's revenues, which rose 110% last year to reach $665m. But a reported slow growth in user numbers was a bigger concern for investors. Shares stood down 20% at $52.87 in pre-market trading. Twitter averaged 241 million monthly users in the last quarter of the year, up just 3.8% on the previous quarter. That represents a slowdown compared with a growth rate of 10% seen at the beginning of 2013. Timeline views were down nearly 7%, suggesting users were refreshing their feeds less often. Shares fell as much as 12% in after...