Twitter lost almost as much money in the July-to-September quarter as it did in the first six months of this year, according to a regulatory disclosure made by the company on Tuesday.
Twitter, which is preparing for an imminent initial public offering of its stock to investors, submitted an updated S1 filing to the U.S. Securities and Exchange Commission that contained financial results for the first nine months of its current financial year. Its previous filing had only contained figures for the first six months, from February until the end of June.
The company said revenue in the three-month period was US$169 million, just over double that achieved during the same period a year earlier and a quarterly record for the fast-growing company.
But just as revenue climbed, losses were also sharply higher. Twitter racked up a net loss of $64 million in the three-month period—three times worse than the third quarter of its previous fiscal year and almost as much as it lost in the previous six months combined.
To read this article in full or to leave a comment, please click here
ConversionConversion EmoticonEmoticon