Twitter today posted a $136.7M second-quarter deficit, a slight improvement from the year ago $144.6M red ink flow.

Revenues rose 61 percent to $502M, a performance that outpaced the forecasted $470M to $485M sales range.

Interim CEO Jack Dorsey noted "good progress in monetization" but expressed dissatisfaction over audience growth.

Average monthly active users moved ahead 15 percent to 316M during the period.

Dorsey said Twitter will reach its full potential via a more disciplined execution, simplifying the microblogger's service to deliver value faster and better communication of Twitter's worth to users.

During the six-month period, Twitter's net loss widened from $277M to $299M and revenue grew from $562.7M to $938.3M.

Twitter released its financials after the stock market closed.