The prospects of Twitter’s highly anticipated initial public offering just got a little brighter.
Research firm eMarketer increased its forecast for Twitter’s ad revenue this year and said the popular social media company could haul in close to $1 billion in 2014.
The upward projection comes as Twitter’s mobile advertising skyrockets, eMarketer’s report said. Mobile devices will account for about 53% of Twitter's ad revenue this year, eMarketer estimated. By 2015, Twitter is expected to pull in $1.33 billion in worldwide ad revenue, more than 60% of which will come from mobile advertising.
In 2011, Twitter had “virtually no ad revenue from mobile,” the research firm said.
In a report issued Wednesday, eMarketer said Twitter's worldwide ad revenue will climb to $583 million this year, increasing its previous forecast of $545 million. Twitter’s ad revenue last year was about $288 million, eMarketer estimated.