According to an article published on the Wall Street Journal:
Twitter Inc. revealed fresh financial details in a securities filing, including continued user growth but a wider loss in the third quarter, as costs continued to outpace revenue.
Twitter Inc. revealed fresh financial details in a securities filing, including continued user growth but a wider loss in the third quarter, as costs continued to outpace revenue.
The San Francisco social network also Tuesday said it plans to list its shares on the NYSE a strong endorsement of the Big Board's effort to be a trading hub for technology companies.
The filing advances Twitter toward an initial public offering that could take place in November. The roadshow for the IPO could begin as soon as Oct. 25, according to people close to the discussions, although it isn't clear if it will.
For the third quarter, Twitter said its net loss widened to $64.6 million, from $21.6 million, in the same period a year earlier. The company booked big increases in expenses for research and development, and sales and marketing.
Quarterly revenue more than doubled, to $168.6 million, from $82.3 million a year ago. That was roughly the same growth rate as in the second quarter.
Helping to drive revenue was advertising on mobile devices, as users increasingly access Twitter on their smartphones. The company said more than 70% of advertising revenue came from mobile devices in the third quarter, compared with more than 65% in the second quarter.
To put Twitter's ad business in perspective: Users clicked on or retweeted 15 times as many ads in the third quarter as in the first quarter of 2012. Meanwhile, the average price of each ad is down over 75%
