Twitter hatched a plan and it worked a tweet in Q1

Twitter beats expectations with $665M in revenue amid its turnaround hopes		
		
	Matthew Lynley

       @	   
   	7 hours

Twitter beat monthly active user projections, hitting 336 million at a growth rate of 6 percent year over year. Excluding one-time items, Twitter said it earned 16 cents a share, to top the estimates of analysts, who had forecast the company to earn 12 cents a share on $606.9 million in total sales. Revenues rose 21 percent year-on-year to United States dollars 665 million, with the company saying sales increased across all products and geographies.

Wall Street analysts had expected Twitter to finish its first quarter with 334 million monthly active users.

"The first quarter was a breath of fresh air for investors that have patiently awaited this turnaround story to manifest after years of pain and it looks like the Twitter growth train is back on track delivering two very strong consecutive quarters", wrote Daniel Ives, head of technology research at GBH Insights.

Twitter's average daily active usage or DAU for the quarter grew 10 percent year-over-year, marking another quarter of double-digit growth. (NYSE:TWTR)'s quarterly earnings on April, 25 before the open., as reported by RTT.

It was the company's second straight profitable quarter. Net income attributable to Facebook shareholders rose to $4.99 billion, or $1.69 per share, from $3.06 billion, or $1.04 per share, a year earlier. Assetmark invested 0% in Twitter, Inc. However, Twitter's 80-day moving average has emerged as a floor over this same time frame, and is located right at the stock's intraday low and a 38.2% Fibonacci retracement of its rally from late October to its almost two-year high of $38.80.

While there have been few signs that users have abandoned social media, companies like Twitter and Facebook face the prospect of costs rising as lawmakers seek new regulations to avoid abuse and misuse of their sites. Internationally, MAUs grew to 267 million users from 262 million.

She said eMarketer has increased its revenue estimates for Twitter "because we are seeing strong performance in its non-US mobile ad business, as well as better performance for direct response and video advertising".

Looking ahead, Twitter expects to achieve an adjusted EBITDA of between $245m and $265m at a margin between 37 and 38 per cent for Q2 2018.

This self-examination has prompted new products and services. It attributed the rise to a modest increase in users, more advertising options, and better execution of its sales strategy. Last month, Dorsey asked the public to propose solutions to make the social network a nicer place by measuring "collective health, openness and civility of public conversation".

Related:

  • Steven Pienaar weighs in on Salah-Messi comparisons

    Steven Pienaar weighs in on Salah-Messi comparisons

    Mohamed Salah is the fifth player to be involved in 40 Premier League goals (31 goals, nine assists) in a season. Bristol City's Lauren Hemp was named Women's Young Player of the Year.
    Israel IDF Catches 2 Armed Infiltrators From Gaza

    Israel IDF Catches 2 Armed Infiltrators From Gaza

    Due to its support for the Palestinian struggle, Malaysia does not have diplomatic ties with Israel. The dead man was an expert on attack-drone and rocket systems, according to Israeli sources.
    Ederson calls on Guardiola to give him unique opportunity

    Ederson calls on Guardiola to give him unique opportunity

    "I'm not going to tell them", he said. "Football is an emotional game", said Guardiola, as quoted by the Mirror . Its current goal difference of plus 73 is two better than the all-time best, Chelsea's 71 in 2009-10.
  • Bad weather puts a cork in the world's wine production

    Bad weather puts a cork in the world's wine production

    Prices are up 74 percent in Italy, 45 percent in Spain and over 10 percent in France, the European Commission said. Meanwhile in the U.S., California experienced devastating wildfires that destroyed much of the harvest.
    I failed to spot Windrush fiasco coming, says Amber Rudd

    I failed to spot Windrush fiasco coming, says Amber Rudd

    The Labour leader says it is time Home Secretary Amber Rudd "took responsibility and resigned" over the Windrush scandal. After uproar from MPs, she said that people "up and down this country" want action taken against illegal immigrants.
    Princess Charlotte's wave upstages the new royal baby

    Princess Charlotte's wave upstages the new royal baby

    The royal trio were greeted by press and fans alike as they eagerly awaited Kate Middleton and the debut of her third child . Prince William , who drove himself in a Range Rover to the London hospital, first got Prince George out of the vehicle .
  • SCOTUS hears travel ban arguments

    SCOTUS hears travel ban arguments

    He said the policy's call for a report every six months "indicates there'll be a reassessment" from time to time. The ban's challengers nearly certainly need one of those two justices if the court is to strike down the ban.
    'Golden State Killer' arrested in Northern California

    'Golden State Killer' arrested in Northern California

    DeAngelo faces capital murder charges in connection with the killings of Katie and Brian Maggiore in 1978. Sacramento County District Attorney Anne Marie Schubert said DNA helped solve the case.
    Bucks none too pleased with non-call late in Game 5

    Bucks none too pleased with non-call late in Game 5

    Point guard Eric Bledsoe goes a step further, though. "It's win or go home, so I mean you can't leave nothing on the line". The energy he brings and the plays he makes with pure hustle are massive for this team, but it is so much more.
  • The New Orleans Pelicans Go For The Sweep Today At Home

    The New Orleans Pelicans Go For The Sweep Today At Home

    Pelicans All-Star Anthony Davis says winning a series is "amazing" after being viewed as a longshot just to make the playoffs. And they came in with a great defensive game plan, they threw something at us that we hadn't seen and it worked out for them.
    Mick Mulvaney Promotes Bribing Members of Congress

    Mick Mulvaney Promotes Bribing Members of Congress

    As a congressman, Mulvaney was one of the CFPB's fiercest critics and co-sponsored legislation to eliminate the bureau. "Banks and payday lenders already have armies of lobbyists on their sides and they don't need one more ".
    Amazon's new Echo Dot Kids Edition

    Amazon's new Echo Dot Kids Edition

    Amazon on Wednesday launched the Echo Dot Kids Edition that comes with a free two-year subscription to FreeTime Unlimited. The Echo Dot will now be available at a price of Rs. 3,499 as against the current price of Rs. 4,999.

Comments

Other news