Twitter has lifted the veil on its financials, revealing that its ad revenue is growing robustly, but that it remains a way off from profitability.
The company — which will trade under the symbol TWTR — brought in $253.6 million in revenue in the first six months of the year, up 107% from the same period a year earlier, according to an S-1 filing submitted to the Securities and Exchange Commission Thursday. (Widely cited figures from eMarketer had projected Twitter’s revenue for the entire year would reach $582.8 million.) Some 87% of that revenue came from ads, while the balance comes from fees Twitter collects for licensing its data.
It plans to raise $1 billion when it starts trading on the New York Stock Exchange.