IPO filing: Twitter is unprofitable despite strong mobile business

Twitter generates 65% of its advertising revenue through mobile ads, according to a regulatory filing preceding its initial public offering that indicates the social network is seeking to raise $1 billion. Twitter averaged 218 million monthly active users in the second quarter, a 44% increase from the year before, and it posted first-half 2013 revenues of $253.6 million, the filing says. Despite that growth, Twitter has yet to turn a profit, according to the filing.

View Full Article in:

New York Times (tiered subscription model), The · Bloomberg · Wall Street Journal (tiered subscription model), The

Published in Briefs: