Twitter has little to celebrate a year after IPO
Despite the success in mobile advertising, it is paying for the disconnect between promise and performance
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San Francisco
TWITTER Inc celebrated its one-year anniversary as a public company on Thursday with a stock that's soared 55 per cent from its debut. Its performance by many other measures is less stellar.
After jumping 73 per cent to open at US$45.10 on its first trading day, Twitter's share price closed lower on Wednesday at US$40.37. The company currently has a record-low enterprise value of 19.4 times trailing 12-month sales, according to data compiled by Bloomberg. The San Francisco-based company also continues to bleed money, with losses widening faster than sales gains. Twitter's profitability has been pushed out to 2017 from 2015 at the time of its initial public offering, according to analysts' estimates compiled by Bloomberg.
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