The city is broadening the reach of its 9% “amusement tax” to include streaming entertainment services like Netflix and Spotify.
But the social network also reports a $64.6 million net loss.
Twitter Inc., the social network that plans to go public, has reported a 123% year-over-year increase in ad revenue for the third quarter, but remains unprofitable.
The social network generated $153.4 million in ad revenue in the third quarter, up from $68.7 million in the same period a year earlier, according to a filing with the U.S. Securities and Exchange Commission. Twitter’s net loss grew to $64.6 million from $21.6 million a year earlier.
Twitter says it will list its shares on the New York Stock Exchange. That decision comes nearly a year and a half after Facebook began trading on the tech-heavy Nasdaq exchange.
For the third quarter ended Sept. 30, Twitter also reported:
- $168.6 million in total revenue, up 104.9% from $82.3 million from the same period 2012.
- Mobile advertising accounted for roughly 70% of advertising revenue, or roughly $107.4 million, in the third quarter, up from about 65% in the second quarter.
- 232 million monthly active users, up about 38.9% from 167 million in the same period a year earlier.
- 176 million consumers, about 76% of Twitter’s monthly active users, accessed Twitter from a mobile device, compared with about 115 million consumers, or 69% of its monthly active users, in the same period a year earlier.
- 100 million daily active users.
For the first nine months of 2013, Twitter reported:
- $422.2 million in total revenue, up 106.3% from $204.7 million in 2012.
- $374.9 million in advertising revenue, up 120.5% from $170.0 million in the same period a year earlier.
- $133.9 million net loss, up from a $70.7 million loss a year earlier.