Member Article

Twitter reports $645 million losses on significant revenue growth

Twitter reported net losses of $645 million for 2013, just three months after its flotation on the New York Stock Exchange.

The San Francisco-headquartered firm reported revenues of $665 million for the year - up 110% year-on-year.

Analysts pointed to a slowdown in Twitter’s growing user numbers as monthly active users had risen to 241 million by the end of December - a 30% increase year-on-year.

Nate Elliott, an analyst at research firm Forrester, told AFP: “If you don’t have an engaged user base, you don’t have a business. They have got to do better on users, that is the entire story.”

During last year Twitter launched its self-service advertising platform to UK SMEs, and acquired Californian mobile advertising exchange MoPub - with the view to making it easier for advertising to scale their advertising buying.

Dick Costolo, CEO of Twitter, said: “Twitter finished a great year with our strongest financial quarter to date.

“We are the only platform that is public, real-time, conversational and widely distributed and I’m excited by the number of initiatives we have underway to further build upon the Twitter experience.”

This was posted in Bdaily's Members' News section by Tom Keighley .