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Twitter Soars As It Beats Across The Board… But Can It Hold

Courtesy of ZeroHedge. View original post here.

Twitter stock soared as much as 13% this morning after the company reported earnings which – as has been the case this earnings season – blew out expectations, even if the gain is rapidly being faded, just like most other massive beats observed in recent weeks. 

A quick look at TWTR's reported Q1 numbers, reveals GAAP Net Income of $61MM, only the company's second quarter of positive net income, and a mirror image of the $62MM lost in Q1 2017. This translated to EPS of $0.16, handily beating consensus exp of $0.12.

Revenue came in at $664.9mln, also solidly above expectations of $610mln, a 21% increase Y/Y with advertising revenue of $575MM also growing 21% Y/Y.

Twitter also surprised positively on Monthly Active Users, which increased 3% to 336 million, just above the 335.5MM expected, although the best news is that the decline in US MAUs appears to have halted, with TWTR reporting 69 million monthly US users, up 1 million from a quarter ago, if -1% from a year ago. International MAUs meanwhile increased by 4%.

… while Daily Active Users rose by 10% Y/Y.

There was more good news in the EBITDA line, which increased 44% Y/Y, rising to $244MM from $170MM, and handily beating expectations.

The obligatory EBITDA bridge:

Twitter's monetization metrics were more of a mixed bag, with a 69% Y/Y increase in ad engagements, the lowest in the past year; this was offset by 28% Y/Y decline in the cost per ad engagement.

Also somewhat disappointing is that while total revenue jumped 21%, US ad revenue increased just 1% Y/Y, from $284MM to $288MM, and declined significantly from Q4.

And while TWTR was trading about 6% higher premarket, cutting its kneejerk gain in half…

… it would be remarkable if this gain manages to stick in light of the relentless fade observed by most of TWTR's tech peers.


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