Twitter’s losses are mounting as the online messaging service prepares to make its stock market debut.<\/p>\n
A regulatory filing Tuesday disclosed the San Francisco company lost nearly $65 million during the three months ending in September.<\/p>\n
That’s the largest quarterly setback that Twitter has suffered during the past three years. Twitter lost about $22 million at the same time last year.<\/p>\n
In a development likely to hearten prospective investors, Twitter’s revenue more than doubled from last year to nearly $169 million.<\/p>\n
But the company’s rising losses could dampen some of the enthusiasm for Twitter’s initial public offering. The IPO is expected to be completed next month, though the company hasn’t set a target date.<\/p>\n
Twitter ended September with 232 million active users, up from 218 million in June.<\/p>\n
Facebook IPO fail means no bonus for Nasdaq chief<\/strong><\/a><\/p>\n Twitter finalising IPO<\/strong><\/a><\/p>\n SA social media stats revealed<\/strong><\/a><\/p>\n