Micro-blogging site Twitter has reported a net loss of $511m during the fourth quarter of 2013 despite a 116% year-over-year increase in its revenue to $243m.
During the quarter, the company's advertising revenue increased by 121% to $220m, compared to the same period previous year, while its mobile advertising revenue was 75% more than its total advertising revenue.
Data licensing and other revenue reached $23m, an 80% year-over-year rise, while international revenue increased 200% to $66m for the quarter representing 27% of the total revenue.
Twitter CEO Dick Costolo said the company finished a great year with strongest financial quarter to date.
"We are the only platform that is public, real-time, conversational and widely distributed and I'm excited by the number of initiatives we have underway to further build upon the Twitter experience," Costolo added.
For 2013, the company experienced a net loss of $645m in spite of 110% growth in revenue to $665m.
For the quarter, the company's average monthly active users (MAUs) number grew 30% to 241 million, while the mobile MAUs increased by 37% to 184 million and its timeline views increased 26% to 148 billion.
Twitter expects to generate revenue in the range of $230m to $240m for the first quarter of 2014, while its adjusted EBITDA is anticipated to be in the range of $10m to $16m.
The company expects its full year revenue for 2014 to be in the range of $1.15bn to $1.2bn.