Shares in Twitter drop after slower than expected growth

Shares in Twitter dropped to their lowest levels since the company's stock market flotation, as it reported slower than expected user growth.

The social media site - famous for making people think in 140 characters or less - continued to make money from advertising and raised its outlook for the rest of the year.

But Twitter has yet to make a profit.

Twitter says it made a net loss of $132m (£78m) in the first three months of 2014.

However, it posted quarterly revenue of $250m - $226m of which was made through advertising.

Michelle Fleury reports from New York