Twitter reports $645m loss for 2013

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Twitter reports $645m loss for 2013

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Twitter shares have fallen more than 11 percent on Wall Street after the microblogging site announced net losses of 645 million dollars for 2013.

The loss was expected by analysts, who highlighted Twitter’s revenues, which rose 110% last year to reach $665m.

Twitter brings in money largely by selling advertising space and data on tweeting habits.

Twitter had made a magnificent start on the New York Stock, Exchange last November with its shares initially soaring more than 73 percent from their opening price of 26 dollars each.