Twitter’s main Irish subsidiary reported a €2.4 million pretax loss last year despite recording a 42 per cent rise in turnover to €1 billion from €708 million.
Newly filed accounts show Twitter International, which employs more than 170 people locally, also "made a distribution" of $60 million (€55 million) to its San Francisco-headquartered parent earlier this year.
The company fell into the red and reversed a €8.2 million profit in 2018 after booking a €22.5 million impairment charge arising from the poor performance of a group company of which it is the parent.
Operating profits at Twitter International totalled €19 million last year, up from €11.6 million a year earlier.
It said cash and cash equivalents at the year-end totalled €60 million, down from €72 million in 2017.
Directors of the company said Twitter believed its “revenue priorities are leading to improvements to core ad offerings through better performance and measurement”.
Twitter said it employed 173 people at the Irish subsidiary last year with staff costs totalling €20.06 million.
The company first established operations in Dublin in 2011, although it cut a number of jobs here in late 2016.
Twitter International has what it describes as an “arm’s length” operating licence agreement with other its parent to provide services outside of North America.
The group’s parent reported better-than-expected second-quarter revenue and a rise in daily users in late July. Turnover was up 18 per cent in the second quarter to $841 million as the company reported a profit of $1.1 billion and as daily active usage hit 139 million.
