Twitter posts smallest revenue gain, plans to drop Vine

WASHINGTON, Oct 27 (KUNA) -- Twitter said on Friday it plans to drop nine percent of its employees worldwide and its video-sharing app, Vine, as it posted its ninth straight period of slowing growth.
The social media application's revenue rose 8.2 percent to USD 615.9 million, its smallest ever gain, quarterly results showed.
It also recorded a loss of USD 102.9 million, or 15 cents per share, with a 44 percent drop in shares over the past 12 months.
In a statement, the company announced that Vine, launched in 2013, will be discontinued "in the coming months." However, the video-sharing app's website will be kept online, and users will be allowed to access and download past videos, it said. (end) sd.hb