News Column

Twitter reports US$645 million loss for 2013

February 7, 2014

Twitter reported a net loss of US$645 million for 2013, after more than doubling its market value in the stock exchange. ANKARA Twitter has reported net losses of US$645 million for 2013 on Wednesday after the company's three-months flotation on the New York Stock Exchange. The Twitter loss was expected by market analysts and what is vital for the company is the 110 percent revenue increase which reached $665m. Revenue for the fourth quarter of 2013 totaled $243 million, an increase of 116 percent compared to $112 million in the same period last year. Experts are discussing whether Twitter can deliver returns to investors.  Dick Costolo, CEO of Twitter, said the company will continue to invest in making it a more visually engaging medium. He said "It will be a combination of changes introduced over the year that we believe will begin to change the slope of the growth curve." Twitter said it had 241 million monthly users globally in December, up from 232 million at the end of September Twitter's public offering price of $26 in November more than doubled in December at US$74.73 in December (now US$65, and the company was valued at around US$18 billion). The company's mobile advertising revenue was more than 75 percent of the total advertising revenue and the financial forecast for both the first quarter and full year of 2014 is expected to be US$240 million. For the full year, Twitter expects revenue of US$1.2 billion, nearly double the US$665 million it posted in 2013.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Anadolu Agency (Turkey)

Story Tools