After 10 Years Twitter is Still Not Making Money while Losing Billions

Twitter reports staggering loses since launching in 2006
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Twitter reports staggering loses since launching in 2006

With Twitter being so popular in the social media spectrum, it's hard to believe that the company has not been profitable in 10 years. In fact, the company has lost over $2 billion since launching back in 2006. That's right, billion.

Twitter recently revealed their annual 10-K on Feb. 29 that revealed the staggering numbers. The company has actually never been profitable. Before the company went public in 2013, Twitter lost more than $400 million. In 2015 alone it reported $520 million in losses. With that being said, investors are more concerned with adjusted earnings, numbers that exclude various expenses and stock-based compensation. When dealing with those numbers, Twitter's net income since launching is $277 million.

Still, Twitter's main issue seems to be dealing with the future. Can they gain more users? Wall Street doesn't seem to think so as the company's stock fell below $20 per share, far off from the high of $70. 

The social media platform is aware of these troubles and has recognized the possibility of being more profitable. Also in the 10-K, the company outlined plans to focus on live-streaming video, crack down on bad accounts and “demonstrate our value proposition to a larger audience” with improvements being made in the coming year.

[via: Time]