Twitter doubles third-quarter revenue to $168 million

In an amended filing ahead of IPO expected next month, microblogging service also says it now has 230 million monthly active users.

Twitter's revenue in the third quarter more than doubled compared with last year, according to an amended regulatory filing the microblogging company submitted Tuesday ahead of an IPO expected to land next month.

The San Francisco-based company recorded revenue of $168.6 million in the third quarter, up from $82.3 million in the year-ago period, an increase of 104 percent. However, the company's net loss increased to $64.6 million in the three-month period ended September 30 compared with $21.6 million a year earlier.

Twitter also said it now has 230 million monthly active users, up from the 215 million users it reported when it revealed its S-1 filing with the Securities and Exchange Commission earlier this month.

The company also announced that it has chosen to list its shares on the New York Stock Exchange rather than the Nasdaq, which is the home to most public tech companies, such as Microsoft, Apple, Google, and Facebook.

Twitter formally announced on October 3 its plans to go public and goal to raise $1 billion earlier this month. Its IPO date could be as soon as November 15 and the social network will use the ticker symbol TWTR.

 

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