“We had a very strong financial quarter,” said Twitter CEO Dick Costolo last night, as the company announced its latest quarterly financial results. Although by “very strong” we’re talking about a net loss of $175.5m, up from $64.6m in the corresponding quarter last year. Admittedly, Twitter’s revenues did rise sharply too, from $168.6m in Q3 2013 to $361.3m in Q3 2014. So that’s revenue growth of 114% and net losses growth of 172% year-on-year. Although wait for the caveat: the latest quarter included $170m of stock-based compensation expense. More stats: Twitter’s average monthly active users were 284m in the third quarter this year, up 23% year-on-year, but up less than 5% quarter-on-quarter. Fears of a slowdown in new users led to the company’s share price falling 10% in the hours after the financials were announced. Twitter said that 80% of its average monthly active users were mobile, while mobile ads were 85% of its $320m of advertising revenues.

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