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| $TWTR |
LIVE Webcast: on April 25, 2018, Twitter hosted a conference call to discuss these financial results at 8:00 a.m. EDT: investor.twitterinc.com
Twitter First Quarter Earnings Conference Call (replay)
Twitter First Quarter Earnings Conference Call (replay)
Slide Presentation (pdf)
Earnings Press Release (pdf)
First Quarter 2018 Operational and Financial Highlights:
The company reported first quarter revenue of $665 million, an increase of 21% year-over-year. Quarterly GAAP net income was $61 million, representing a GAAP net margin of 9% and GAAP diluted EPS of $0.08. This compares with a quarterly GAAP net loss of $62 million, a GAAP net margin of (11%) and GAAP diluted EPS of ($0.09) for the same period last year. Quarterly non-GAAP net income was $123 million, representing a non-GAAP diluted EPS of $0.16. This compares with a quarterly non-GAAP net income of $53 million, representing a non-GAAP diluted EPS of $0.07 for the same period last year. As a result of the 2017 Tax Cuts and Jobs Act, the blended US federal and state statutory tax rate used to calculate the company’s reported non-GAAP provisions for income taxes decreased from 37% to 24% beginning in Q1 2018. Approximately $21 million of the $70 million year-over-year increase in non-GAAP net income resulted from this change. Adjusted EBITDA was $244 million or 37% of total revenue, compared to $170 million or 31% of total revenue for the same period last year. Average monthly active users (MAUs) were 336 million for the quarter, an increase of 3% year-over-year and an increase of 6 million compared to 330 million in the previous quarter. Average daily active users (DAU) grew 10% year-over-year, marking another quarter of double-digit growth.
Selected Company Metrics and Financials (pdf)
Outlook
For Q2, we expect:
• Adjusted EBITDA to be between $245 million and $265 million
• Adjusted EBITDA margin to be between 37% and 38%
• Stock-based compensation expense to be in the range of $85 million to $95 million
For FY 2018, we expect:
• Stock-based compensation expense to be in the range of $350 million to $450 million
• Capital expenditures to be between $375 million and $450 million
Note that our outlook for Q2 and the full year 2018 reflects foreign exchange rates as of April 16, 2018.
Twitter, Inc., follows the conversation about the earnings announcement on Twitter. To have your questions considered during the Q&A, Tweet your question to @TwitterIR using #TWTR. To listen to a live audio webcast, please visit the company’s Investor Relations page at investor.twitterinc.com. Twitter has used, and intends to continue to use, its Investor Relations website and the Twitter accounts of @jack, @twitter and @TwitterIR as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. See also on Twitter $TWTR.
Tweets by TwitterIR
Press release:
