VIDEO

Twitter to list on NYSE, more than doubles quarterly revenue

Men are silhouetted against a video screen with a Twitter logo in Zenica, on Aug 14, 2013. Twitter Inc IPO-TWTR.N said on Tuesday it would list its stock on the New York Stock Exchange, dealing a blow to the tech-heavy Nasdaq which bungled rival Face
Men are silhouetted against a video screen with a Twitter logo in Zenica, on Aug 14, 2013. Twitter Inc IPO-TWTR.N said on Tuesday it would list its stock on the New York Stock Exchange, dealing a blow to the tech-heavy Nasdaq which bungled rival Facebook's initial public offering. -- PHOTO: REUTERS

SAN FRANCISCO (REUTERS) - Social networking website Twitter Inc IPO-TWTR.N said on Tuesday it would list its stock on the New York Stock Exchange, dealing a blow to the tech-heavy Nasdaq which bungled rival Facebook's initial public offering.

In an amended IPO filing, Twitter updated its financials and user figures along with expanded details of investors.

Twitter sustained its pace of revenue growth in the third quarter, more than doubling its third quarter revenue to US$168.6 million (S$210 million).

But the company widened its net loss to US$64.6 million in the September quarter compared with US$21.6 million a year earlier.

Twitter also said it has 230 million monthly active users, up from about 218 million when the company first disclosed its S-1 filing on Oct 3.

The red-hot company had been aggressively wooed by both exchanges but analysts had predicted that Facebook's debut, which was marked by a series of technical glitches that delayed the start of trading, could weigh against the Nasdaq.

"This is a decisive win for the NYSE. We are grateful for Twitter's confidence in our platform and look forward to partnering with them," said Mr Scott Cutler, head of NYSE's listings business.