Twitter beats by $0.04, reports revs in-line
- Reports Q3 (Sep) earnings of $0.10 per share, $0.04 better than the Capital IQ Consensus of $0.06; revenues fell 4.2% year/year to $590 mln vs the $586.22 mln Capital IQ Consensus.
- Adjusted EBITDA was $207 million or 35% of total revenue, compared to $181 million or 29% of total revenue in the same period last year.
- Average MAU was 330 million for the quarter, up 4% year-over-year. Average DAU grew 14% year-over-year, an increase from 12% year-over-year growth in the prior quarter and marking the fourth consecutive quarter of double-digit growth.
- Outlook
- Adjusted EBITDA to be between $220 million and $240 million
- Adjusted EBITDA margin to be between 35% and 36%
- Capital expenditures to be no more than $110 million
- Stock-based compensation expense to be in the range of $90 to $100 million
- Also expect that at the high end of our adjusted EBITDA range, we will likely be GAAP profitable.
- "We're pleased with the improvements made toward a return to revenue growth this quarter," said Ned Segal, Twitter's CFO. "Our momentum was driven by improved execution from our sales team, strength in video and direct response ad formats, as well as in our data business, where we saw our third consecutive quarter of accelerating year-over-year growth. We also achieved record profitability in Q3, with a sequential improvement in our GAAP net margin and record adjusted EBITDA margins, reflecting improved prioritization and disciplined execution across our strategic priorities."
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