Twitter slides 11% as Q1 users, revenue come in largely as expected
• Q1 Non-GAAP EPS of $0.16 beats by $0.02; GAAP EPS of $0.08 beats by $0.10.
• Revenue of $1.04B (+28.8% Y/Y) beats by $10M.
• Twitter (NYSE:TWTR) is 11% lower in early postmarket trading after first-quarter earnings showed a beat on profitability, but revenues and user numbers that were in line with expectations - a tough sell in a quarter of tech earnings blowouts.
• The company also offered subdued Q2 revenue guidance in line with expectations.
• Revenues rose 29% to $1.04B, largely as expected.
• Those gains reflected "accelerating year-over-year growth in MAP revenue and brand advertising that improved throughout the quarter," says Chief Financial Officer Ned Segal. "Advertisers continue to benefit from updated ad formats, improved measurement, and new brand safety controls, contributing to 32% year-over-year growth in ad revenue in Q1."
• And monetizable daily active users grew about 20% to 199M, vs. expectations that the company would hit the 200M mark this quarter. That figure was up 7M sequentially.
• Average U.S. mDAU came to 38M, vs 33M a year ago; international mDAU were 162M, vs a previous 133M.
• Costs and expenses rose just 21% to $984M, and so operating income swung to a gain of $52M vs. a year-ago loss of $7M. Operating margin was 5%.
• And net income swung to a gain of $68M, vs. a year-ago loss of $8M.
• Net cash from operations rose to $390M from a prior-year $247M.
• For Q2, it's guiding to revenue of $980M-$1.08B (vs. consensus for $1.05B), and a GAAP operating loss of $170M to $120M.
Submitted April 29, 2021 at 08:14PM by Chippye https://ift.tt/2Re9OdT
