For a company that’s supposed to be the next big thing in online advertising, Twitter is still losing a lot of money.
The seven-year-old microblogging service lost $79 million last year despite revenues that nearly tripled to $317 million, according to its initial public offering filing that just went public. What’s more, even though the 2012 loss was much reduced from 2011′s $128 million loss, losses are accelerating again. In the first six months of this year, losses totaled more than $69 million, up from $49 million in the first six months of 2011.
Ad revenues shot up 247% last year, to $269 million, with data services not quite doubling, to almost $48 million. In the first six months of this year, ad revenues have more than doubled, to $221 million. Data services, which are the revenues Twitter gets from licensing its data for use by other sites and companies, were up 53%, to $32 million. It’s pretty clear from these numbers that Twitter, like its much bigger peers such as Facebook, Google, and Yahoo, is a media company first and foremost.