Twitter.com Inc. plans to shut down its Vine mobile video app within a few months, according an announcement posted to Medium Thursday. This comes on the same day that Twitter announced it would cut 9% of its workforce, or roughly 350 jobs. Vine said it will keep the website active so that creators can continue to watch their vines, which are short clips that circulate on loops similar to GIFs. Earlier on Thursday, Twitter reported better-than-expected quarterly earnings and revenue and said its user base increased 3% to 317 million monthly active users, compared with the FactSet consensus estimate of 316.3 million. Shares of Twitter rose 1.1% to $17.50 in afternoon trade. While they’re up 11% in the past three months, they’re off more than 44% from 12 months ago. The S&P 500 , meanwhile, is down 1.2% in the past three months but has risen 3.6% in the past year.
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