Twitter this month filed to raise up to $1 billion in an initial public offering, and has been targeting industry segments including TV and entertainment to drive revenue. The company’s filings show it has been growing fast — but that its losses have also mounted.
In an updated S-1 filing Tuesday, Twitter said it had $168.6 million in revenue for the third quarter, more than twice the year-earlier period, but also disclosed a net loss of $64.6 million, its highest reported to date. Twitter’s monthly active user based climbed to an average of 231.7 million for the quarter ended Sept. 30, up 6% from 218.3 million the previous quarter.
In the third quarter, Twitter hired 300 new employees, bringing its headcount to about 2,300. In the filing Tuesday, Twitter also said it will list its stock on the New York Stock Exchange, under the symbol “TWTR.”