Twitter Is Powerful, But Where Are The Profits?

6 Nov

CBS San Francisco

SAN FRANCISCO (CBS / AP) — It can help overthrow dictators. But can it make money?

Protesters famously used Twitter to organize during the Arab Spring three years ago. President Barack Obama announced his 2012 re-election victory using the short messaging service. Lady Gaga tweets. So does the pope.

But for all its power and reach, Twitter gushes losses – $65 million in the third quarter, nearly three times more than it lost a year ago.

As Wall Street analysts size up Twitter ahead of its first public stock sale this week, more than a few are expressing concern about the company’s lack of profits.

Those misgivings are echoed by average investors. Some 47 percent of Americans believe Twitter won’t be a good investment, according to a recent AP-CNBC poll.

[worldnow id=9490295 width=435 height=270 type=video]

Of course, a company’s pre-IPO losses are no indication its stock will do poorly. Amazon.com…

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