Twitter Beats on Revenues and Earnings

Angelica Greene
April 26, 2018

That surpassed the average analysts' estimate of $605.9 million, according to data compiled by Bloomberg.

Also when it comes to the userbase, Twitter added 6 million new monthly active users (MAUs) - 1 million from the home market U.S. and 5 million from outside - in Q1 2018.

Twitter has found it hard to attract advertising dollars on the same scale as Facebook and Google.

In a note to investors, Brian Wieser, senior analyst at Pivotal Research, said: "Twitter reported 1Q18 earnings with spectacular revenue growth driven by worldwide activity, which more than offsetting tepid United States results". Revenue from the latest quarter was up 21% year over year, and the company expects to be GAAP profitable for 2018. "They're iterating the product more in the last two years than they have in the past seven". The shares were up 4% to $31.76 at 7.33am premarket in NY.

"The first quarter was a strong start to the year", Twitter CEO Jack Dorsey said in announcing the results.

Despite high-profile users like the US President Donald Trump, Twitter has struggled to attract people.

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More broadly, Wieser considers Twitter to be a "durable, if niche (but highly differentiated), platform for digital advertising", while Pivotal maintains its "sell" rating on the company's stock. Almost all of that growth is coming from overseas: Twitter had 69 million users in the USA, unchanged from a year earlier.

Twitter experienced healthy growth during the last 12 months, largely driven by the maturation of its video ad suite, with the company posting Q1 revenues of $665m, up 21% year-over-year. Marketers are becoming more aware of the scale of their audiences at an worldwide level and Twitter has become synonymous as the hub of conversation around major global events.

And as Twitter has worked to root out terrorist content and abusive trolls, advertisers' perceptions of the platform are also improving, according to a survey conducted by RBC Capital Markets and Ad Age.

Twitter attributes this growth to a number of factors, including the addition of several new products like bookmarks and video timestamps. Ticker's shares touched $29.999 during the last trading session after 3.91% change.Currently Twitter, Inc.is uptrending after 87.26% change in last April 24, 2017. Analysts predict $0.01 EPS, which is $0.06 up or 120.00 % from 2017's $-0.05 EPS. Analysts' estimates typically exclude special items.

Things are looking up for Twitter Inc (NYSE:TWTR), as the social media company has delivered its second consecutive quarter of positive results.

Dorsey talked about Twitter's Fox Sports collaboration on the 2018 FIFA World Cup tournament in June, and how Twitter users will be able to see - and share - every single goal. "We do not benefit from social graphs", Dorsey said.

Other reports by GizPress

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