Twitter records profit for first 15 months in Ireland
Country’s most popular tweeter is One Direction’s Niall Horan who has more than 14.4m followers
Twitter logo: the company’s Dublin-based operation has unlimited status and is not required to file annual accounts
Twitter’s Dublin-based operation recorded a profit in its first 15 months in business, new returns show.
Twitter International Company was established in September 2011, and today employs 100. The firm has unlimited status and is not required to file annual accounts. However, an auditor’s report recently filed with the Companies Office confirms that the company recorded a profit in the 15 months to the end of December 2012.
The level of profit is not disclosed in the three-page auditor’s report drafted by PriceWaterhouseCoopers.
The Dublin-based firm is the parent of UK subsidiary Twitter UK Ltd. Abridged accounts recently filed by that firm show its accumulated profits increased from £16,499 to £108,907 in the year to the end of December 2012.
Twitter’s corporate website confirms the company is recruiting 25 people for its Dublin base. Advertised posts include senior roles in driving revenues across its Europe, Middle East and Africa markets.
Twitter, which announced last week it had filed paperwork to begin the process of selling stock in an initial public offering (IPO), has disclosed little information about its finances. A spokeswoman for Twitter yesterday declined to respond to queries on its Irish operation, saying only that the website has 200 million users worldwide.
However, one independent firm, US-based eMarketer, has estimated the company will bring in $583 million (€437m) in worldwide revenue from advertising this year, increasing to $950 million in 2014.
Ireland’s most popular tweeter is One Direction’s Niall Horan, who has more than 14.4 million followers.