Why 2013 Was Quite a Year for Twitter
Following Twitter’s (NYSE:TWTR) initial public offering this past fall, the social media company’s revenue increased to $664 million in 2013. This amount is more than double its approximately $317 million in revenue from 2012, according to its annual report filed with the Securities and Exchanges Commission for 2013.
Despite this revenue increase, Twitter’s net loss was about $645 million that same year, mostly because of costs associated with research and development and marketing and sales. In 2012, the company’s net loss was approximately $79 million, with revenue costs and research and development being the leading costs for that year.
The documents revealed that Twitter’s initial public offering had raised more than $2.02 billion for the company after its underwriting costs. Twitter filed the necessary documents for its IPO with the SEC in September. The sale of approximately 80 million shares of common stock at $26 pwe share started the week of November 7. The initial stock sale was considered successful.
Since the initial public offering last year, Twitter’s stock has hovered at about $50 per share. Twitter is traded on the New York Stock Exchange.
The financial filing also contained some interesting information about how users tweet. Of its more than 240,000 monthly active users, as they call regular Twitter users in the report, 76 percent of them tweet using their phones. Its mobile app remains at in the top twenty-five free apps for both Apple’s App Store and Google Play. From phones, computers and other devices, Twitter users produce about 500,000 tweets a month, all of which were 140 characters or less.