San Francisco — Twitter failed to attract more monthly viewers in the second quarter, spooking investors looking for evidence that the company is on a sustainable long-term growth path. The shares tumbled more than 9% in early trading, even as quarterly revenue topped analysts’ projections. A long-term turnaround depends on Twitter expanding its audience. That number stands at 328-million monthly active users — the same as in the prior quarter, the San Francisco-based company said in a statement Thursday. Revenue fell 4.7% and the company’s net loss also widened, affected by a $55m write-down of the value of its investment in SoundCloud, the German music streaming service. Twitter is still working to prove that it can build a sustainable, growing business. After hitting a plateau with its user base and struggling with a slowdown in sales, the company started narrowing its focus, shuttering businesses and teams that did not fit its goal of being a destination for live-event content. ...
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