DHAKA: Twitter has reported its slowest quarterly sales growth in three years, as the firm fends off competition from a growing number of social media sites.

Revenue for the second quarter was up 20% to $602m, far slower than the same quarter last year when it rose 61%.

But the micro-blogging site managed to shrink its quarterly loss to $107m from $136m last year, reports the BBC.

The company also reported a 3% increase in monthly active users (MAU) an important metric for advertisers.

Twitter attracted 313 million MAUs up from 310 million in 2015.

“We continue to believe that, with disciplined execution against our priorities, we can drive sustained engagement and audience growth over time,” said Twitter chief financial officer Anthony Noto.

The company’s stock fell over 9% in after-hours trading.

BDST: 1232 HRS, JUL 27, 2016
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