- Results – revenue $616M (+8% Y/Y, $10.16M above estimates), EPS $0.13 ($0.04 above estimates), net income $92M
- Revenues breakdown – Advertising $545M (+6% Y/Y), Data licensing and other $71M (+26% Y/Y); U.S. $374M (+1% Y/Y), International $242M (+21% Y/Y)
- Highlight metrics – average MAUs 317M (+3% Y/Y, vs. 313M Q/Q), average daily active usage increased 7% Y/Y (vs. 5% in Q2)
- Restructuring – 9% global workforce reduction, focused mainly on regrouping of sales, partnership and marketing initiatives. Resulting cash expenditures of $10M-$20M, non-cash expenditures of $5M-$10M expected. Anticipates recording the pretax charges in Q4.
- Projections – Q4 and FY 2016 revenue estimates not given, attributed to reorganization of sales channels. Company notes due to this "there is a wider range of potential revenue outcomes." Estimates given for FY 2016, however, are adjusted EBITDA in the range of $700M-$715M, capital expenditures of no more than $360M and for Q4, stock-based compensation of $150M-$160M and share count in the range of 725M-735M.
- Twitter (NYSE:TWTR) CEO Jack Dorsey: "Our strategy is directly driving growth in audience and engagement, with an acceleration in year-over-year growth for daily active usage, Tweet impressions, and time spent for the second consecutive quarter. We see a significant opportunity to increase growth as we continue to improve the core service. We have a clear plan, and we're making the necessary changes to ensure Twitter is positioned for long-term growth. The key drivers of future revenue growth are trending positive, and we remain confident in Twitter's future."
- Despite the pre-market move upward, Twitter shares remain 20%+ lower on the month.
- Shareholder letter
- Conference call (8AM ET)
- Press release
- 8-K