Excluding World Cup Impact, Twitter Is Worth $31 - $34 Per Share
- Twitter's management felt the World Cup impact on Q2 results were de minimis.
- I estimated Twitter's Q2 2014 revenue excluding the World Cup impact at $270 million, or $42 million less than the $312 million actually reported.
- At 18x - 20x run-rate revenue sans World Cup, Twitter is valued at $31 - $34 per share, or 31% - 24% below its current price of $45.
- Twitter is a sell.