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Twitter reveals revenue, net loss in public IPO filing

4:26 PM, Oct 3, 2013   |    comments
A view of an iPhone with Twitter and Facebook apps among others. (Photo: Evan Vucc, AP)
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SAN FRANCISCO -- Twitter made its IPO filing public Thursday revealing revenue generated by the micro-blogging service.

Twitter reported revenue of $254 million in the six months ended June 30 and a net loss of $69 million in the same period, according to the filing with the Securities and Exchange Commission.

The stock ticker will be TWTR and the banks leading the offering are Goldman Sachs, Morgan Stanley and JP Morgan, the filing also said.

The public filing marks the next step in what is the most important technology IPO since Facebook's flawed market debut in 2012.

Twitter has become a powerful way to share information, used by corporate chieftains, presidents and kids alike. However, the company has only recently begun to try to make money from its service - and the public IPO filing gives an important insight into how this effort is going.

Twitter said in September that it had filed IPO documents with regulators confidentially under a new law that allows companies with less than $1 billion in annual revenue to keep such details under wraps. However, companies are required to make the documents public about three weeks before they start of "roadshows" in which they meet with potential investors in the IPO.

Twitter's public filing suggests that its roadshow will start in late October. Roadshows typically last a week or two, so Twitter shares could debut in November.


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