If Twitter can’t grow, it needs to turn a profit. The company has realized that much, but achieving it won’t be an easy task.

Twitter on Thursday reported a larger-than-expected net loss in the fourth quarter as year-over-year revenue growth slowed to less than 1%. Revenue from advertising fell slightly. User growth accelerated to 4.5% year over year from 3.3% in the third quarter, but Twitter’s monetization efforts fell short. Average revenue per user fell 4%—the first decline in that metric.

...