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Twitter’s Wall Street woes are far from over.

In its fourth quarter earnings, the company proved once more that it can make money — revenue of $479 million beat expecations — but the service simply cannot gain users. It added only four million monthly active users, around eight million shy of analyst estimates.

Ad revenue continued to climb, up 97% to $432 million. In the U.S., Twitter earns $5.65 in ad dollars for every 1,000 timeline views — when a user refreshes their feed — a 49% annual increase. Outside the U.S., that figure grew at a faster clip but remains low at $1.16.

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