Twitter (TWTR) Tops Q2 EPS by 13c, Q3 Revenue Guidance Beats

Twitter (NYSE: TWTR) reported Q2 EPS of $0.20, $0.13 better than the analyst estimate of $0.07. Revenue for the quarter came in at $1.19 billion versus the consensus estimate of $1.06 billion.

• Average monetizable daily active users (mDAU) were 206 million for Q2, compared to 186 million in the same period of the previous year and compared to 199 million in the previous quarter.

GUIDANCE:

Twitter sees Q3 2021 revenue of $1.22-1.3 billion, versus the consensus of $1.17 billion.

• Given our execution and confidence in our strategy as we enter the second half of the year, we're updating our outlook for expense growth and revenue. We now expect headcount, along with total costs and expenses, to grow 30% or more for the full year of 2021 with a focus on engineering and product. As you'd expect, incremental headcount investments in 2021 will flow into our annual expense base in 2022. We continue to expect total revenue to grow faster than expenses in 2021 — assuming the global pandemic continues to improve and that we continue to see modest impact from the rollout of changes associated with iOS 14.5. How much faster will depend on various factors, including our execution on our direct response roadmap and macroeconomic factors.
• For Q3'21:
• Total revenue is expected to be between $1.22 billion and $1.3 billion.
• GAAP operating income is expected to be between a loss of $50 million and break even.
• For FY21:
• Stock-based compensation expense is expected to be approximately $600 million.
• Capital expenditures are expected to be between $900 million and $950 million.

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

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