Twitter beats by $0.03, beats on revs; Beats on EBITDA:
- Reports Q2 (Jun) earnings of $0.08 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.05; revenues fell 4.7% year/year to $574 mln vs the $536.63 mln Capital IQ Consensus.
- Adjusted EBITDA was $178 million (Guidance was $95-115 mln) or 31% of total revenue, compared to $175 million or 29% of total revenue in the second quarter of 2016.
- Average MAU was 328 million for the quarter, up 5% y/y and compared to 328 million in the previous quarter.
- Average DAU grew 12% y/y.
- Q3 Outlook
- Adjusted EBITDA to be between $130 million and $150 million;
- Adjusted EBITDA margin to be between 25% and 26%;
- Stock-based compensation to be between $100 million and $110 million.
- FY17 Outlook
- Total non-GAAP expenses to be down 3% to down 6%, compared to full year 2016 (Prior Flat to down 5%)
- Stock-based compensation to be down 25% to down 30%, compared to full year 2016 (Prior guidance Down 20-25%)
- Capital expenditures to be between $300 million and $400 million (Reaffirm)
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