Twitter’s Irish arm records a loss
A three-page auditor’s report filed to the Companies Office by PWC, on behalf of Twitter International Company, confirms that the firm recorded the loss in the 12 months to the end of December last. However, the extent of the loss isn’t revealed as Twitter’s company status here is unlimited.
Twitter is one of the highest profile US multinationals to have unlimited status in Ireland along with Apple, LinkedIn and Medtronic.
Dublin’s Twitter operation is the firm’s European Middle East and African headquarters and has over 20 functions represented, including sales, policy, HR, finance, legal, IT and engineering.
Twitter’s Dublin operation is headed up by Harvard and Trinity-educated Dubliner, Stephen McIntyre, and the loss last year follows the firm recording an undisclosed profit in its first 15 months here.
The firm only established here in September 2011 but has increased its workforce to 200 and it currently has 20 vacancies, including a number of senior positions such as European Middle East and African head of HR and head of SMB marketing, along with a regional sales operations manager.
Globally, last year, Twitter recorded pre-tax losses of $647m (€816m) through mainly expansion costs — the firm’s global revenues last year more than doubled to $694m.
Documents filed by Twitter in the US show that $172m of the global revenues in 2013 were based outside the US and Twitter’s Dublin firm would oversee a sizeable chunk of those revenues with responsibility for the European Middle East and African.
The US documents disclose that $66.5m of revenues were generated in the UK and based on population size, revenues in Ireland were probably around $4.75m.
