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Twitter's second quarter net profit of 100 million US dollars fell more than 16% before the market

via:博客园     time:2018/7/28 0:02:26     readed:389

Microblogging Twitter released its second quarter earnings report for the year ended June 30, 2018. According to the financial report, Twitter's second-quarter revenue was US$711 million, up 24% year-on-year; net profit was US$100 million, a loss from the net loss of US$116 million in the same period last year.

Not in accordance with US GAAP, Twitter's second-quarter net profit was $134 million, an increase of 139% from the $56 million in the same period last year, and a diluted earnings per share of $0.17. Twitter's second quarter results were in line with market expectations. Thomson Reuters survey showed that market analysts had previously expected that, in accordance with US GAAP, Twitter's second-quarter revenue was $696.2 million, and diluted earnings per share were $0.17.

Main results in the second quarter:

--Twitter's second quarter revenue was $711 million, an increase of 24% from $574 million in the same period last year.

--Twitter's second-quarter net profit was $100 million, a turnaround from a net loss of $116 million in the same period last year. Not in accordance with US GAAP, Twitter's second-quarter net profit was $134 million, an increase of 139% from $56 million in the same period last year.

--Twitter diluted earnings per share for the second quarter was $0.13, compared to a diluted loss per share of $0.16 for the same period last year. Not in accordance with US GAAP, Twitter's second-quarter earnings per share were $0.17, compared with earnings per share of $0.08 in the same period last year.

-- Not in accordance with US GAAP, Twitter's adjusted EBITDA for the second quarter (ie, net income not included in interest, taxes, depreciation and amortization) was $265 million, an increase of 48.9% from $178 million in the same period last year. It is in line with the company's previous forecast of US$245 million to US$265 million; the adjusted EBITDA margin is 37%, up from 31% in the same period last year.

-- As of June 30, 2018, Twitter's monthly average active users was 335 million, an increase of 9 million from the 326 million in the same period last year, and a decrease of 1 million from the 136 million in the previous quarter. The average monthly active user of Twitter in the United States was 68 million, which was the same as that of the same period last year, down from 69 million in the previous quarter. The average monthly active user number was 267 million, up from 258 million in the same period last year, which was the same as the previous quarter. .

--Twitter The average daily active users in the second quarter increased by 11% compared with the same period of last year, which was slightly higher than the previous quarter's 10%, and once again achieved a double-digit percentage increase of daily average active users. Twitter's daily average active/monthly active users ratio is still below 50%.

Second quarter financial analysis:

Revenue:

Twitter's second-quarter revenue was $711 million, a 24% increase from $574 million in the same period last year.

--Twitter advertising revenue for the second quarter was $601 million, up 23% from the same period last year, and 21% year-on-year at constant exchange rates; advertising revenues owned and operated were $564 million, up 29% year-on-year; video ads were The second quarter still accounted for more than half of Twitter's advertising revenue, and is the company's fastest growing ad format.

--Twitter's second quarter data authorized revenue and other revenues were $109 million, an increase of 29% over the same period last year;

--Twitter US revenues for the second quarter were $367 million, an increase of 10% over the same period last year;

--Twitter International revenues for the second quarter were $344 million, an increase of 44% over the same period last year.

Net profit:

Twitter's second-quarter net profit was $100 million, better than the net loss of $116 million in the same period last year.

Not in accordance with US GAAP, Twitter's second-quarter net profit was $134 million, an increase of 139% from $56 million in the same period last year.

Twitter's diluted earnings per share for the second quarter was $0.13, compared to a diluted loss per share of $0.16 for the same period last year. Not in accordance with US GAAP, Twitter's second-quarter earnings per share were $0.17, compared with earnings per share of $0.08 in the same period last year.

Adjusted EBITDA:

Not in accordance with US GAAP, Twitter's adjusted EBITDA for the second quarter (ie, net profit not included in interest, taxes, depreciation and amortization) was $265 million, an increase of 48.9% from $178 million in the same period last year, in line with the company. Previously estimated US$245 million to US$265 million; adjusted EBITDA margin was 37%, up from 31% in the same period last year.

cost:

Twitter’s total cost and expenses for the second quarter were $631 million, up from $612 million in the same period last year. Among them, the revenue cost was US$230 million, up from US$213 million in the same period last year; R&D expenditure was US$139 million, down from US$143 million in the same period last year; sales and marketing expenses were US$188 million, up from 1.85 in the same period last year. US$100 million; general and administrative expenses were US$74 million, up from US$71 million in the same period last year.

Not in accordance with US GAAP, Twitter's total cost and expenses for the second quarter was $547 million, a 13% increase from the same period last year. Twitter's second-quarter traffic acquisition costs are approximately $16 million.

Twitter's second-quarter equity incentive spending was $79 million, which accounted for 11% of the company's total revenue, which was lower than the company's previous estimate of $85 million to $95 million, down from $113 million in the same period last year. As of the end of the second quarter, the total number of Twitter employees exceeded 3,500. Twitter expects to increase its workforce by 10% to 15% this year, with a focus on health, audience and engagement growth, advertising products and sales.

Cash, cash equivalents and securities:

As of June 30, 2018, the total amount of cash, cash equivalents and marketable securities held by Twitter was approximately $5.7 billion. Net cash flow from operating activities in the second quarter was $321 million, up from $190 million in the same period last year; capital expenditure was $194 million, up from $77 million in the same period last year; adjusted free cash flow was $127 million The dollar is higher than the $113 million in the same period last year.

Participation and audience

Twitter's average daily active users in the second quarter increased by 11% year-on-year, which is the seventh consecutive quarter of Twitter daily average users to maintain double-digit percentage growth. In the top 10 markets of Twitter, the average daily active users of 5 markets exceeded the double-digit percentage.

The average monthly active users of Twitter in the second quarter was 335 million, an increase of 9 million from the same period last year and a decrease of 1 million from the previous quarter. The average monthly active user of Twitter in the United States was 68 million, which was the same as that of the same period last year, down from 69 million in the previous quarter. The average monthly active user number was 267 million, up from 258 million in the same period last year, which was the same as the previous quarter. .

Performance expectation:

Twitter expects adjusted EBITDA for the third quarter of FY18 to be $215 million to $235 million; adjusted EBITDA rate of 33% to 34%; and equity incentive spending of $85 million to $90 million.

Throughout 2018, Twitter equity incentive spending was approximately $300 million to $350 million; capital expenditures were approximately $450 million to $500 million.

Stock price performance:

Twitter shares fell 1.28 US dollars on the New York Stock Exchange regular trading on Thursday, down 2.89%, to close at 42.94 US dollars. In the pre-market trading on Wednesday, the number of users did not reach market expectations. At the time of writing, Twitter's share price plummeted by 6.95 US dollars in pre-market trading, a decrease of 16.19%, to close at 35.99 US dollars. In the past 52 weeks, Twitter's lowest share price was $15.67 and the highest share price was $47.79. Based on Thursday's closing price, Twitter's market capitalization is about $32.2 billion.

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