The Irish arm of Twitter recorded pre-tax losses of €239.69 million last year.

The loss is connected with the costs associated with the company completing a €7.9 billion purchase from a connected company for the Intellectual Property rights to develop and maintain Twitter operations in all countries excluding the Americas.

The main costs impacting on the Dublin company from the deal are the non-cash amortisation of intangible assets totaling €263.7 million for last year.

The accounts show that since the start of this year, it issued share capital totaling €8 billion to settle amounts owed to group undertakings from the IP deal.

Revenues at Twitter International Company increased by 2% to €1.024 billion last year.

The directors said the company "has performed in line with expectations" and that they "are confident of the future long term success of the company".

The increase in advertising revenues was primarily driven by increases in monetisable Daily Active Users, increases in ad pricing and the number of ads shown. 

The company last year paid dividends of €53.8m.

The revenues enjoyed by the Dublin unit represent 35% of Twitter's global revenues of $3.46 billion last year.

The social media firm has been based in Ireland since 2011 and the business here today is led by Sinead McSweeney.

Numbers employed here last year increased from 173 to 196.

Staff costs increased by 26% from €20 million to €25.2 million that included shared based payments of €3.66 million.

The three directors shared emoluments of €727,000 last year and also shared based gains of €1 million.

The amount of revenues that the business generates from its Irish users is not disclosed.