Twitter as
filed its general prospectus for an initial public offering of shares in the US.
While the company has yet to fix how many shares it will sell or a price for the new stock, the document provides details on the messaging company's financial results for the first time. Twitter recorded revenue of $254 million in the first six months of this year, up from $122.4 million a year earlier, while its net loss swelled to $69 million from $49 million.
While the company has yet to fix how many shares it will sell or a price for the new stock, the document provides details on the messaging company's financial results for the first time. Twitter recorded revenue of $254 million in the first six months of this year, up from $122.4 million a year earlier, while its net loss swelled to $69 million from $49 million.
Twitter reported an average 218.3 million monthly users in the
second quarter, up by 44 per cent from a year earlier. Almost a quarter (49.2
million) were in the US, up by 35 per cent year-on-year, while users in the
rest of the world were growing faster, up by 47 per cent to 169.1
million.
The company said a good measure of its ability to monetise the
service is the amount of revenue generated from each user viewing a timeline on
the site or apps. This rose to $0.80 in ad revenue per 1,000 views in the
second quarter, an annual increase of 26 per cent. Around two-thirds of its ad
revenue comes from mobile services.
For the purposes of fixing
a fee for the IPO filing, Twitter estimated it will raise $1 billion in the
offering. It said it will use the proceeds to help fund general operating costs
and an estimated $225 million -$275 million in capital expenditure this year.
The listing also aims to create a public market for its stock and open up the
public market for future fundraising. The company said it does not intend to
start paying dividends.
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