Twitter revenue soars 114pc to US$361m in Q3

27 Oct 2014

Twitter's mobile revenue made up 85pc of its total revenue in its third quarter 2014

Microblogging titan Twitter has ended its third quarter with a 114pc leap in revenue to US$361m from US$169m in the same period last year, and a 23pc year-over-year increase in monthly active users to 284m.

The company also reported GAAP net loss of US$175m, compared to US$65m in the third quarter of last year. Non-GAAP net income amounted to US$7m, compared to a non-GAAP net loss of US$17m in the year-ago quarter.

Basic and diluted GAAP earnings per share totalled US$0.29 for the third quarter, compared to US$0.48 in the third quarter of 2013.

Twitter also saw revenue increase in other divisions during the third quarter. Advertising revenue rose 109pc year-over-year to US$320m, data licensing and other revenue jumped 171pc year-over-year to US$41m, and international revenue shot up 176pc from the year-ago quarter to US$121m.

International revenue represented 34pc of Twitter’s total revenue, whereas mobile revenue made up 85pc of the total revenue.

Twitter’s average mobile monthly active users (MAUs) made up about 80pc of total MAUs. 

The company’s CEO Dick Costolo said Twitter had another very strong financial quarter.

“I’m confident in our ability to build the largest daily audience in the world, over time, by strengthening the core, reducing barriers to consumption and building new apps and services,” Costolo said.

Twitter on mobile image via Shutterstock

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