On April 30, twitter released its financial report for the first quarter of 2021 as of March 31 after the close of U.S. stocks on Thursday local time (early morning Beijing time on Friday). According to the report, the company's revenue in the first quarter was $1036 million, up 28% from $808 million in the same period of the previous year; First quarter net profit was $68 million, compared with a net loss of $8.4 million in the same period last year.

Main results of the first quarter

revenue

Revenue in the first quarter was $1.036 billion, up 28% from $808 million in the same period of the previous year, with a year-on-year growth of 27% regardless of exchange rate changes.

In terms of business categories, the revenue of advertising business in the first quarter was US $899 million, up 32% from US $682 million in the same period last year, with a year-on-year growth of 30% regardless of the impact of exchange rate changes; Among them, the revenue of advertising business from international market in the first quarter was US $436 million, an increase of 45% over US $301 million in the same period of last year, and a year-on-year increase of 41% regardless of the impact of exchange rate changes;

In addition, in the first quarter, the total ad engagements increased by 11% year-on-year, and the cost per interaction (CPE) increased by 19% year-on-year.

In the first quarter, revenue from data authorization and other businesses was US $137 million, up 9% from US $125 million in the same period of last year, and up 9% year on year regardless of exchange rate changes;

In terms of geographical distribution, in the first quarter, the revenue from the local area of the United States was US $556 million, up 19% year on year.

In the first quarter, the revenue from the international market was 480 million US dollars, an increase of 41% compared with 339 million US dollars in the same period last year, and a year-on-year increase of 38% regardless of the impact of exchange rate changes;

Operating costs and expenses

Operating costs and expenses in the first quarter were $984 million, up 21% from $815 million in the same period of the previous year. Among them, the cost of revenue was 381 million US dollars, compared with 284 million US dollars in the same period of last year; R & D expenditure was US $250 million, compared with us $200 million in the same period last year; Sales and marketing expenditure was 235 million US dollars, compared with 221 million US dollars in the same period last year; General and administrative expenses were $118 million, up from $109 million in the same period last year.

According to non GAAP, operating costs and expenses in the first quarter were US $865 million, up 21% from US $712 million in the same period of the previous year. Among them, 111 million US dollars were included in the stock incentive expenditure, up 13% compared with 97.903 million US dollars in the same period of last year, accounting for about 11% of the total revenue; The amortization of intangible assets was $8.107 million, compared with $5.041 million in the same period of last year.

Operating profit / loss

In the first quarter, the operating profit was 52 million US dollars, with an operating profit margin of 5%; In the same period last year, the company had an operating loss of $7 million and an operating profit margin of - 1%.

Net profit / loss

First quarter net profit was $68 million, compared with a net loss of $8.4 million in the same period last year. The net profit margin was 7% in the first quarter and - 1% in the same period last year. The basic earnings per share in the first quarter was US $0.09, compared with us $0.01 in the same period last year; Diluted earnings per share for the first quarter were $0.08, up from $0.01 in the same period last year.

According to non GAAP, the net profit in the first quarter was 141 million US dollars, compared with 87.4 million US dollars last year; Diluted earnings per share in the first quarter were $0.16, up from $0.11 in the same period last year.

Key points of operation in the first quarter

In the first quarter, capital expenditure totaled US $179 million, up from US $121 million in the same period last year, mainly due to increased investment in infrastructure to support user growth and product innovation.

The average monetized daily active user (mdau) was 199 million in the first quarter, up 20% from 166 million in the same period last year and 4% from 192 million in the previous quarter. Among them, the average number of monetized daily active users in the U.S. was 38 million in the first quarter, 33 million in the same period last year and 37 million in the last quarter; In the first quarter, the average daily active users of the international market were 162 million, 133 million in the same period of last year and 155 million in the last quarter.

As of March 31, 2021, the total amount of cash, cash equivalents and short-term investments held was US $8.806 billion. As of December 31, 2020, the total amount of cash, cash equivalents and short-term investments held was US $7472 million.

Analysts' expectations and stock price changes

Twitter's revenue in the first quarter was $1.036 billion, up 28% year on year, better than Wall Street analysts expected; But first quarter earnings of $0.09 per share fell short of Wall Street analysts' expectations.

According to the data collected by Yahoo Finance, the average expectation of 32 Wall Street analysts was that the company's revenue in the first quarter was US $1.03 billion, a year-on-year increase of 27.3%; On average, 27 Wall Street analysts had expected earnings per share of $0.14 in the first quarter.

Shares of the company fell $7.42, or 11.40%, to $57.67, as of press time on the New York Stock Exchange on Thursday local time. In intraday trading, the stock fell $0.61, or 0.93%, to $65.09（ Tianmen Mountain)