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Twitter (TWTR) Tops Q3 EPS by 5c; MAUs Rose 11% Y/Y

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October 27, 2015 4:10 PM EDT

(Updated - October 27, 2015 4:12 PM EDT)

Twitter (NYSE: TWTR) reported Q3 EPS of $0.10, $0.05 better than the analyst estimate of $0.05. Revenue for the quarter came in at $569 million versus the consensus estimate of $559.59 million.

Monthly Active Users – Total average Monthly Active Users (MAUs) were 320 million for the third quarter, up 11% year-over-year, and compared to 316 million in the previous quarter. Excluding SMS Fast Followers, MAUs were 307 million for the third quarter, up 8% year-over-year, and compared to 304 million in the previous quarter. Mobile MAUs represented approximately 80% of total MAUs.

Consumer Products – Twitter launched Highlights on Android, Music on Vine, and landscape view and web profiles for Periscope. We introduced an updated version of the logged-out Twitter.com desktop home page. We also removed the 140-character limit on direct messages.

Advertising Products –Twitter launched video auto-play on all devices, expanded its self-service ads platform to over 200 countries and territories, and extended the offerings of the Twitter Audience Platform (formerly the Twitter Publisher Network) to include additional targeted objectives and new creative formats. For performance marketers, Twitter introduced new optimization and bidding enhancements. Twitter also introduced event targeting as well as ads editor, a new tool that enables advertisers to seamlessly create and edit numerous campaigns at once.

Partnerships – Twitter announced commerce partnerships with platforms that power e-commerce sites, including Bigcommerce, Demandware, and Shopify, and retailers and brands such as Best Buy, Adidas, and PacSun. These commerce partnerships are powered by Stripe Relay. Twitter partnered with Square to enable U.S. political donations through Tweets. Twitter also extended its existing agreement with Bloomberg to bring more Twitter data to financial professionals.

Guidance:

Twitter’s outlook for the fourth quarter of 2015 is as follows:

·

Revenue is projected to be in the range of $695 million to $710 million. (The Street sees $739.7 million.)

·

Adjusted EBITDA is projected to be in the range of $155 million to $175 million.

·

GAAP expenses are projected to include the vast majority of the $5 million to $15 million of total restructuring charges expected from corporate restructuring activities. These charges are projected to be $10 million to $20 million in cash expenditures. GAAP expenses are lower than cash restructuring costs due to a credit related to non-cash stock-based compensation expense reversals for unvested stock awards.

·

Capital expenditures are projected to be no more than $110 million.

·

Stock-based compensation expense is projected to be in the range of $170 million to $180 million, excluding the impact of equity awards that may be granted in connection with potential future acquisitions.

For earnings history and earnings-related data on Twitter (TWTR) click here.


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