Twitter reports $175 million loss in third quarter
Business |
Twitter expects revenue of $1.36 billion in 2014.
Social media website Twitter reported on Monday net losses of $175 million in the third quarter of 2014.
The company also posted revenue of $361 million, an increase of 114 percent over the previous year.
Mobile advertising contributed 85 percent of the total $320 million of advertising revenue.
The company's shares dropped more than 10 percent in after-hours trading after the company released its quarterly earnings report.
"We had another very strong financial quarter," said Twitter CEO Dick Costolo. ""I'm confident in our ability to build the largest daily audience in the world, over time, by strengthening the core, reducing barriers to consumption and building new apps and services."
The companys international revenue totaled $121 million, an increase of 176 percent year-over-year, which constituted 34 percent of total revenue.
Twitter also said there were 284 million average Monthly Active Users for the third quarter, up 23 percent from a year ago.
For the full year, Twitter expects revenue of $1.36 billion, more than double the $665 million it posted in 2013.
Anadolu Agency
The company also posted revenue of $361 million, an increase of 114 percent over the previous year.
Mobile advertising contributed 85 percent of the total $320 million of advertising revenue.
The company's shares dropped more than 10 percent in after-hours trading after the company released its quarterly earnings report.
"We had another very strong financial quarter," said Twitter CEO Dick Costolo. ""I'm confident in our ability to build the largest daily audience in the world, over time, by strengthening the core, reducing barriers to consumption and building new apps and services."
The companys international revenue totaled $121 million, an increase of 176 percent year-over-year, which constituted 34 percent of total revenue.
Twitter also said there were 284 million average Monthly Active Users for the third quarter, up 23 percent from a year ago.
For the full year, Twitter expects revenue of $1.36 billion, more than double the $665 million it posted in 2013.
Anadolu Agency
