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Q2-2015: Twitter sees 61% revenue growth, ad revenue up 63.2%

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BENGALURU: Twitter, Inc. reported 60.9 per cent growth in revenue for the quarter ended 30 June, 2015 (Q2-2015) at $502.38 million as compared to the $312.17 million in the corresponding year ago quarter. Excluding the impact of year-over-year changes in foreign exchange rates, revenue would have increased 68 per cent says Twitter.Advertising revenue increased 63.2 per cent to $452 million as compared to $277 million in Q2-2014.

GAAP net loss of $136.66 million in Q2-2015 was lower than the net loss of $144.64 million in Q2-2014, while non-GAAP income in the current quarter was $48.52 million as compared to the $14.60 million in the corresponding year ago quarter. Adjusted EBIDTA for Q2-2015 at $120.19 million more than doubled (up 2.2 times) as compared to the $54.13 million in Q2-2014.

“Our Q2 results show good progress in monetization, but we are not satisfied with our growth in audience. However, product initiatives we've mentioned in previous earnings calls, like instant timelines and logged-out experiences, have not yet had meaningful impact on growing our audience or participation. This is unacceptable and we're not happy about it. In order to realize Twitter’s full potential, we must improve in three key areas: ensure more disciplined execution, simplify our service to deliver Twitter's value faster, and better communicate that value,” said Twitter interim CEO Jack Dorsey.

YTD, Twitter’s revenue increased 66.6 per cent to $938 million in Q2-2015 from $563 million in the six month period ended 30 June, 2014 (6M-2014). Ad revenue in 6M-2015 increased 67 per cent to $840 million as compared to the $503 million in 6M-2014. GAAP Net loss in 6M-2015 increased to $299.10 million as compared to the net loss of $277 million in the corresponding period of last year. Non GAAP net income in 6M-2015 increased to $95.03 million as compared to the $14.80 million in 6M-2014. YTD EBIDTA increased to $224.21 million as compared to the $91.08 million in 6M-2014.

Twitter says that Monthly Active Users - Average Monthly Active Users (MAUs) were 316 million for Q2-2015, up 15 per cent y-o-y, and compared to 308 million in Q1-2015. The vast majority of MAUs added in the quarter on a sequential basis came from SMS Fast Followers. Excluding SMS Fast Followers, MAUs were 304 million for Q2-2015, up 12 per cent y-o-y, and compared to 302 million in Q1-2015. Mobile MAUs represented approximately 80 per cent of total MAUs.

In Q2-2015, Twitter launched a new autoplay feature for native videos, Vines and GIFs, as well as Periscope live video streaming on Android.

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