Twitter (TWTR) Tops Q1 EPS by 5c; Guides Below the Street

Twitter (NYSE: TWTR) reported Q1 EPS of $0.15, $0.05 better than the analyst estimate of $0.10. Revenue for the quarter came in at $595 million versus the consensus estimate of $607.84 million.

• Average monthly active users (MAUs) were 310 million for Q1, up 3% year-over-year and compared to 305 million in the previous quarter. (The Street was looking for MAUs of $308 million.)
• As a reminder, reported MAUs no longer include SMS Fast Followers. We will continue to employ strategies to grow and monetize SMS Fast Followers and will include them in our total audience count, as we make those disclosures.
• Mobile MAUs represented 83% of total MAUs.
• We ended the quarter with $3.6 billion in cash, cash equivalents and marketable securities. Free cash flow in the period was $99 million.

OUTLOOK

For Q2, we expect:

• Revenue to be in the range of $590 to $610 million (The Street sees $677.6 million.)
• Adjusted EBITDA to be in the range of $145 to $155 million;
• Stock-based compensation expense to be in the range of $165 to $175 million;
• GAAP share count to be in the range of 700 to 705 million shares;
• Non-GAAP share count to be in the range of 710 to 720 million shares.

For FY 2016, we expect:

• Capital expenditures to be $300 to $425 million;
• Adjusted EBITDA margin in the range of 25-27%.

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

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