Posts Tagged ‘twitter profits’
In an updated filing, Twitter revealed that it has more than doubled its third quarter revenue compared to the same period last year, although losses also rose.
Twitter saw revenue of $168.6 million in Q3 2013 (through end September), up from $82.3 million a year ago. Net loss increased to $64.6 million – three times the Q3 loss of 2012 ($21.6 million).
Here’s an incredible statistic for you: Google’s 2012 gross revenue was an eye-opening $50.1 billion. The company had 44,777 folks on its roster last year, so this equates to more than a million dollars ($1,120,553) of revenue per employee.
Not bad. So how does Twitter compare? Last year, Twitter’s 2,000 staff members tallied $317 million in gross revenue, which breaks down to $158,500 per person. In terms of profit, however, Twitter actually posted a loss in 2012, so each Twitter employee “lost” $40,000 overall. Only Zynga had a worse year amongst the top tech firms.
Twitter’s pricing on the secondary share market now values the company at a heady $11 billion, which is good news for CEO Dick Costolo and the rest of the Twitter board – and investors – as we head towards the firm’s IPO, which is being pencilled in for 2014.
Of course, this is all still speculative. And while Twitter is estimated to have earned $288 million in global advertising revenues last year, the firm has yet to post a profit.
Well, good news, as the UK subsidiary of the micro-blogging social network has done just that, albeit on a very minor scale.