Twitter earnings show slight user growth and $595 million in revenue

Twitter’s earnings are out, and it’s the same story as always: decent revenue (that missed projections) and steady user growth.

Average monthly active users grew five million versus last quarter to 310 million total, and total revenue was $595 million — estimates were $608 million this quarter. Revenue is up versus this time last year, but down compared to last quarter.

Twitter says revenue was at the lower end of their guidance range.

Still, the company says its positive about the future after laying out its new strategy, especially with products like Periscope making an impact. Here’s how Twitter phrased it in its earnings release:

As we outlined last quarter, we’re focused on what Twitter does best: live. Twitter is live: live commentary, live connections, live conversations. Whether it’s breaking news, entertainment, sports, or everyday topics, hearing about and watching a live event unfold is the fastest way to understand the power of Twitter. Twitter has always been the place to see what’s happening now and our continued investment in live will strengthen this position. By doing so, we believe we can build the planet’s best daily connected audience. A connected audience is one that watches together, and can talk with one another in real time.

This is our first quarterly update after laying out our long-term strategy and priorities. As a reminder, we have five priorities for the year: refining our core service, live-streaming video, creators and influencers, safety, and developers. Each is critical to strengthening our platform and audience around live. We made meaningful progress across each in Q1.