Social network Twitter reported a net loss of US$145m in its Q2 2014 results – ended June 30 – although CEO Dick Costolo remains optimistic.

“Our strong financial and operating results for the second quarter show the continued momentum of our business," Costolo said.

He said the site remains focused on driving user growth and engagement following success from its user experience during the World Cup.

“We served up tailored experiences for each individual match and for the overall World Cup and these experiences felt alive,” Costolo said.

The results, announced Tuesday show, Twitter’s Q2 2014 net income stood at $15m compared to a net loss of $16m in Q2 2013.

Its revenue for the period increased significantly from the previous year’s results. In Q2 2013 the social networking site’s revenue was $139m which was an increase of 124% this year to $312m.

Twitter’s CAPEX for Q2 2014 was $75m, with $31m of equipment financed through capital leases.

The social network has revised its outlook for Q3 2014 with revenue projected to be in the range of $330 to $340m.

For its full year 2014 results Twitter said revenue will be in the range of $1,310 to $1,330m and CAPEX in the range of $330 to $390m.

During the earnings call Costolo announced chief financial officer Mike Gupta has been appointed to the role of senior vice president of strategic investments.

Gupta said; “I am looking forward to starting my new role and importantly I continue to be optimistic about the future of Twitter”.