Twitter UK Only Made $26,500 or €20,275 in Profits

The company, apparently, made little money in 2011

By on January 9th, 2013 15:02 GMT

Twitter is no advertising giant by any means, but it's starting to make some decent money. That's the estimate of course, though the only official figure to come out of the company, not voluntarily mind you, is barely enough to pay for utilities.

Twitter reported just £16,500, $26,500 or €20,275 in profits in the UK, for the first seven months it's been around there.

That's a paltry sum any way you look at it, but Twitter says it's in "scale" with the revenues in the UK in 2011, which the report covers.

It's possible that Twitter really made a very small sum in the UK that year. It's also possible Twitter set up a scheme similar to Google and many others in which money is funneled out of international subsidiaries into tax havens like the Bahamas.

Twitter UK is owned by Twitter International Company, headquartered in Dublin, Ireland. Most US tech firms set up shop in Dublin, again, mostly for tax reasons. Since Twitter is a private company, it doesn't have to report detailed financial info in the US or Ireland.

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