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Q3-2015: Twitter revenue up 57.6%; GAAP loss down

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BENGALURU: Twitter’s new CEO and co-founder Jack Dorsey delivered his maiden report that said that his company had performed better than the previously announced guidance values. The company’s revenue for the quarter ended 30 September, 2015 (Q3-2015, current quarter) increased 57.6 per cent YoY to $569.24 million as compared to the $361.27 million. The previous guidance for the company was revenues in the range of $545 million and $560 million. Revenue growth in the current quarter increased 13.3 per cent QoQ from $502.38 million.

GAAP net loss reported by the company reduced to $131.69 million in the current quarter as compared to the loss of $175.46 million in Q3-2014 and 136.66 million in the previous quarter. Non-GAAP net income grew 9.6 times to $66.98 million as compared to $6.97 million in the corresponding year ago quarter. Non-GAAP diluted income per share increased to $0.10 in Q3-2015 from $0.01 reported for Q3-2014.

Adjusted EBIDTA in the current quarter increased 108 per cent to $142 million in Q3-2015 as compared to the $68 million in the corresponding year ago quarter.

Advertisement revenue in the current quarter increased 60.3 per cent to $513 million from $320 million in the corresponding year ago quarter. Advertisement revenue from the US market increased 57.4 per cent YoY to $329 million (64.1 per cent of advertisement revenue) in Q3-2015 from $209 million (65.3 per cent of advertisement revenue) in Q3-2014. International advertisement revenue increased 66 per cent to $184 million (35.9 per cent of advertisement revenue) from $111 million (34.7 per cent of advertisement revenue) in Q3-2014.

Data Licensing and other revenue in the current quarter increased 37 per cent to $56 million (9.8 per cent of total revenue) as compared to the $41 million (11.4 per cent of total revenue) in Q3-2014.

Twitter’s worldwide monthly active users (MAU) increased 11.5 per cent to 320 million in the current quarter as compared to the 287 million in Q3-2014, but improved by just 1.3 per cent QoQ from 316 million. Excluding SMS Fast Followers, MAUs were 307 million for the third quarter, up eight per cent year-over-year, and compared to 304 million in the previous quarter. Mobile MAUs represented approximately 80 per cent of total MAUs.

MAUs’ from the US increased by four per cent to 66 million in the current quarter as compared to 60 million in Q3-2014 and one per cent QoQ.

“We continued to see strong financial performance this quarter, as well as meaningful progress across our three areas of focus: ensuring more disciplined execution, simplifying our services, and better communicating the value of our platform,” said Dorsey. “We’ve simplified our roadmap and organization around a few big bets across Twitter, Periscope, and Vine that we believe represent our largest opportunities for growth.”

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