Twitter (TWTR) Misses Q3 EPS by 2c, Revenues Beat Easily

October 29, 2020 4:07 PM

Twitter (NYSE: TWTR) reported Q3 EPS of $0.04, $0.02 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $936 million versus the consensus estimate of $777.15 million.

Average mDAU was 187 million for Q3, compared to 145 million in the same period of the previous year and compared to 186 million in the previous quarter.

"We have grown our daily audience by 42 million in the last year as people all around the world come to Twitter to find out about the topics and events they care about most. I'm pleased mDAU grew 29% year over year to 187 million, driven by global conversation around current events and product improvements," said Jack Dorsey, Twitter\'s CEO.

'We're helping people find trusted sources of information by better organizing and surfacing the topics and interests that bring people to Twitter."\"Advertisers significantly increased their investment on Twitter in Q3, engaging our larger audience around the return of events as well as increased and previously delayed product launches, driving revenue to $936 million, up 14% year over year," said Ned Segal, Twitter's CFO. "We also made progress on our brand and direct response products, with updated ad formats, improved measurement, and better prediction. We remain confident that our larger audience, coupled with ongoing revenue product improvements, new events and product launches, and the positive advertiser response to the choices we\'ve made as we have grown the service, can drive great outcomes over time."

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

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