Twitter reported high earnings and revenue in its first quarter as a public company, although its user growth was slower than expected. The company posted revenue of $243 million - more than double from $112 million - in the October-December quarter.

Advertising revenue totaled $220 million, an increase of 121% year-over-year. Mobile advertising revenue was more than 75% of total advertising revenue.

Twitter ended the quarter with 241 million monthly users (MAUs), up 30 percent from a year earlier but up just 3.8 percent from the previous three months.

Mobile MAUs reached 184 million in the fourth quarter of 2013, an increase of 37% year-over-year, representing 76% of total MAUs.

Timeline views reached 148 billion in the fourth quarter of 2013, an increase of 26% year-over-year but still, a sharp drop over the previous quarter.

However, advertising revenue per thousand timeline views reached $1.49 in the fourth quarter of 2013, a significant jump of 76 percent from a year prior.

Twitter's revenue for the first quarter of 2014 is projected to be in the range of $230 million to $240 million. For the full year of 2014, the company expects revenue to be in the range of $1,150 million to $1,200 million.