The popular social media platform Twitter is reporting a loss of $61.6 million in its first quarter.
The San Francisco company said it had a loss of 9 cents per share.
Earnings, adjusted for one-time gains and costs, were 11 cents per share.
However, these results beat Wall Street expectations. The average estimate was for earnings of 2 cents per share.
In October of 2016, Twitter laid off 9 percent of its staff and shutdown its Vine app.