Twitter Reports A 4% Revenue Drop For Q3

Down Quarter

TWITTER has released financial results for its third quarter 2017. The company posted third quarter revenue of $590 million, a decrease of 4% year-over-year. Quarterly GAAP net loss was $21 million, representing a GAAP net margin of (4%) and GAAP diluted EPS of ($0.03). This compares with a quarterly GAAP net loss of $103 million, representing a GAAP net margin of (17%) and GAAP diluted EPS of ($0.15) in the same period last year.  

Quarterly non-GAAP net income was $78 million, or $0.10 per diluted share. This compares with a quarterly non-GAAP net income of $61 million, or $0.09 per diluted share in the same period last year.  

Adjusted EBITDA was $207 million or 35% of total revenue, compared to $181 million or 29% of total revenue in the same period last year.

"This quarter we made progress in three key areas of our business: we grew our audience and engagement, made progress on a return to revenue growth, and achieved record profitability," said CEO JACK DORSEY. "We're proud that the improvements we're making to the product continue to bring people back to TWITTER on a daily basis. It's our job to help people stay informed about what's happening in the world and what people are talking about, and we're focused on making our service faster, easier to use, and more relevant to more people every day."

"We're pleased with the improvements made toward a return to revenue growth this quarter," said CFO NED SEGAL. "Our momentum was driven by improved execution from our sales team, strength in video and direct response ad formats, as well as in our data business, where we saw our third consecutive quarter of accelerating year-over-year growth. We also achieved record profitability in Q3, with a sequential improvement in our GAAP net margin and record adjusted EBITDA margins, reflecting improved prioritization and disciplined execution across our strategic priorities."

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