Posts Tagged ‘twitter profits’
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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.