NEW YORK ( TheStreet) -- Twitter said in a Tuesday filing it will list its shares on the New York Stock Exchange, a subsidiary of NYSE Euronext (NYX), as the micro-blogging site moves towards an initial public offering of its shares.
The move means NYSE will win the most highly anticipated technology sector IPO since Facebook's (FB - Get Report) May 2012 listing on the Nasdaq (NDAQ). That offering was hampered by trading glitches and what some said was an overaggressive pricing and share sale.
TheStreet first reported Twitter's plans to list with the NYSE in late September.
In an amended S-1 filing with the Securities and Exchange Commission on Tuesday, Twitter disclosed its third-quarter earnings results, which showed signs that the company is beginning to scale its fast growing revenue into profits.
Twitter reported $422 million in revenue through the first nine months of 2013, an increase of 120% from year-ago levels, as top-line growth appears to cutting at the firm's overall losses. Although revenues more than doubled, Twitter's GAAP net loss rose by about 90%, indicating that losses are on a narrowing trend. Twitter's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) meanwhile, grew to over $30.7 million through the first nine months of 2013, up from adjusted EBITDA of just $3.5 million in the same period a year ago.
Twitter also reported an increase in monthly active users (MAUs), up to 230 million MAUs from June. Total timeline views also grew in September versus activity the firm reported for the three months ended in June.
Those figures augur well for Twitter, as the company sets out for a road show to sell its shares to the public. The San Francisco-based company has yet to disclose the pricing of its IPO. Twitter used $1 billion as a placeholder amount for its share sale in its initial IPO filing.
Goldman Sachs (GS - Get Report) will lead Twitter's IPO, while Morgan Stanley (MS), JPMorgan (JPM), Bank of America (BAC), Deutsche Bank (DB), Allen & Company and CODE Advisors will also participate in the offering.
Media reports indicate Twitter will launch its roadshow starting in October and will seek to list its shares on the NYSE by mid-November.
-- Written by Antoine Gara in New York.