Britain has officially become Twitter’s biggest market after America, with UK sales more than doubling to $43 million (£27 million) in the first nine months of the year, the Evening Standard can reveal.
Twitter’s explosive growth in Britain means it generated more than 10% of group sales from the UK in the last quarter — the first time it has hit that milestone in any country.
The fact Twitter makes a tenth of its revenue from the UK is significant because its bigger social media rival, Facebook, has never got such a large proportion of its turnover from Britain.In a further sign of the UK’s importance, 40% of Twitter’s revenue from outside America came from the UK, where it has 15 million users.
International revenues, mostly from advertising, almost quadrupled to $106.7 million from $27.4 million a year earlier. US revenues were up 78% at $315.5 million.
Group turnover rose 106% to $422.2 million against $204.7 million. However, pre-tax losses almost doubled to $132.4 million as costs soared. Twitter has not had to release financial details for the UK before as US regulations mean it only has to disclose sales for countries in which it makes more than 10% of group turnover.
The details emerged after the company updated its statement announcing plans for a $15 billion flotation later this autumn.
Twitter has chosen to list on the New York Stock Exchange rather than rival Nasdaq.
