Microblogging come messaging service Twitter, Inc. reported its first quarter results Tuesday, and although the company finally saw some slight user growth, its revenue fell below market expectations.

The company made $595 million in revenue for the quarter. That’s below the $607.8 million analysts expected, but up 36 percent from the $436 million Twitter brought in during the same quarter in 2015 — significantly less than the $710 million made during the fourth quarter of 2015.

Advertising revenue came in at $531 million, up 37 percent over Q1 2015, with mobile advertising now accounting for 88 percent of that figure.

GAAP net loss for the quarter came in at $80 million while non-GAAP net income was $103 million; GAAP diluted earnings per share (EPS) were minus $0.12 while non-GAPP diluted EPS came in at $0.15.

Monthly average users (MAUs) came in at 310 million, up 3 percent from 305 in Q4, but potentially more again as Twitter now excludes SMS fast followers in those numbers.

“Total revenue was at the low end of our forecasted range of $595m to $610m due to slower than expected growth in brand advertising spend,” the company said in a letter to shareholders (pdf). “We see a clear opportunity to increase our share of brand budgets over time.”

“We have a strong product roadmap designed to tap into incremental brand-oriented online video budgets, and will deliver additional features for advertisers later this year — including more detailed demographic targeting and verification, and reach and frequency planning and purchasing.”

Slow growth

While the increase in monthly average users will be welcomed after Twitter lost users in previous quarters, the 3 percent figure isn’t any reason to throw a party: it could simply mean that some existing previous users who had stopped using the service returned, versus an actual uptick in new users. This is something Twitter desperately needs if it ever wants to seriously grow the business again.

That said, the company is trying new things, including its bizarre decision to become the exclusive live-streaming partner for the NFL’s Thursday Night Football games, in an effort to bring fresh blood into its other stagnating services.

On the money side, Twitter also revealed plans to expand the Promoted Video program for its live streaming app Periscope in Q2 to help brands reach a wider audience on the network, which potentially will see it increase its revenue base.

Twitter stock dropped 13.46 percent in after-hours trading following the Q1 announcement to close at $15.36, down from a 52 week high of $41.09. Of note, that’s over 40 percent less than its original float price of $26 per share.

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