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Twitter's Q3 losses widen as it prepares for IPO
by Danielle Levy on Oct 16, 2013 at 08:17
Twitter's losses widened over the third quarter, according to an updated filing ahead of its $1 billion initial public offering.
The social media company confirmed the IPO is set to take place on the New York Stock Exchange. It serves as a blow Nasdaq, which saw its reputation damaged after Facebook's troubled initial listing.
Over the first nine months of the year Twitter said total revenues rose 106% to $422.2m, from the same period the previous year. However net losses rose to $133.8m compared to $70.7m a year earlier.
The number of monthly users rose from 218 million in June to 232 million in September, representing a 39% rise.
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