Twitter Reports 9% Rise In Q3 Financials

9% Rise In Q3 Financials

TWITTER has released financial results for its third quarter 2019.

"We drove strong growth in monetizable DAU (mDAU), up 17% year-over-year, driven by ongoing product improvements. We're continuing to improve relevance while testing ways to make it easier for people to find what they are looking for on Twitter," said CEO JACK DORSEY. "We also continue to make progress on health, improving our ability to proactively identify and remove abusive content, with more than 50% of the Tweets removed for abusive content in Q3 taken down without a bystander or first person report."

"Despite its challenges, this quarter validates our strategy of investing to drive long-term growth. More work remains to deliver improved revenue products. We'll continue to prioritize our ad products along with health and our investments to drive ongoing growth in mDAU," said CFO NED SEGAL. "We remain confident that focusing on our most important priorities, and delivering higher performing, better ad formats will deliver better outcomes for all of our stakeholders for years to come."

Third Quarter 2019 Operational and Financial Highlights

• Revenue totaled $824 million, an increase of 9% year-over-year. Performance was impacted by revenue product issues, which we believe reduced year-over-year growth by 3 or more points, along with greater-than-expected seasonality.
• Advertising revenue totaled $702 million, an increase of 8% year-over-year. Total ad engagements increased 23% year-over-year. Cost per engagement (CPE) decreased 12% year-over-year.
• Data licensing and other revenue totaled $121 million, an increase of 12% year-over-year. US revenue totaled $465 million, an increase of 10% year-over-year. International revenue totaled $358 million, an increase of 7% year-over-year.
• Costs and expenses totaled $780 million, an increase of 17% year-over-year, resulting in operating income of $44 million and 5% operating margin.
• Net income was $37 million, representing a net margin of 4% and diluted EPS of $0.05. In the same period last year, net income was $789 million, representing a net margin of 104% and diluted EPS of $1.02. Also in the same period last year, excluding the release of deferred tax asset valuation allowances of $683 million, adjusted net income was $106 million, representing an adjusted net margin of 14% and adjusted diluted EPS of $0.14. 

« see more Net News