Twitter shares dive after update disappoints

Twitter

Twitter's shares fell hard Tuesday after its quarterly update showed more losses for the struggling social media platform, which has seen sluggish growth in revenues and active users.

Shares were down nearly 11 percent at $16.45 in after-hours trade following the report, which showed Twitter's loss narrowed to $107 million in the second quarter from $136 million a year earlier.

Significantly for investors, the number of monthly active users edged up to 313 million, up three percent from a year ago and only slightly more than the 310 million in the past quarter.

Revenue rose 20 percent from a year earlier to $602 million but lagged expectations. Read More Bbarta24.net