Thursday 26 April 2018

Twitter in profit as it prepares move to new Irish headquarters

An artist’s impression of 1 Cumberland Place, when fully up and running for Twitter
An artist’s impression of 1 Cumberland Place, when fully up and running for Twitter

Gordon Deegan

Social media giant Twitter is to move into its new state of the art HQ in Dublin on Monday.

The micro-blogging firm-- which employs 200 people here and is led by former RTE Primetime presenter Mark Little - will make the move to 1 Cumberland Place after the building's owners, Hibernia REIT, carried out a €29m refurbishment of the entire building ahead of the move.

Twitter's operation in Dublin is the firm's biggest office outside the US and the firm will occupy all of the office accommodation in 1 Cumberland Place, with the exception of the fifth and sixth floors.

The move to 1 Cumberland Place further commits Twitter to Dublin after signing a 20-year lease for the building, which is located between Pearse Street Railway Station and Merrion Square.

Confirmation of the move coincides with new documentation lodged by Twitter's Irish arm, Twitter International Company, with the Companies Office.

The figures show that the firm bucked the company's worldwide loss-making performance in 2015 to record a profit. Globally, Twitter recorded pre-tax losses of $533m in 2015 as its revenues increased by 58pc to $2.2bn.

However, an auditor's report for the Dublin-based Twitter International Company shows that it recorded a profit last year for the second year in a row after recording a loss here in 2013.

Dublin's Twitter operation is the firm's European Middle East and African (EMEA) HQ and has 25 different functions represented including sales, policy, HR, finance, legal, IT and engineering. The firm only established here in September 2011.

Irish Independent

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