The social network giant Twitter (NYSE:TWTR) has today released its first-quarter earnings. The numbers crushed expectations, sending the stock surging more than 6 percent in pre-market trading.
Highlights include:
- Revenue: $787 million vs. $776.1 million expected in a Refinitiv survey of analysts
- Earnings per share: adjusted 37 cents vs. 15 cents expected in the Refinitiv survey
- Monthly active users (MAUs), excluding SMS users: 330 million vs. 318 million expected in a FactSet consensus estimate
Twitter CEO Jack Dorsey
CEO Jack Dorsey commented:
We are reducing the burden on victims and, where possible, taking action before abuse is reported.
Twitter now removes 2.5 times more tweets sharing personal information, and about 38% of abuse tweets taken down each week are detected by machine learning models,” he added.
After this quarter, Twitter stated that it will no longer report monthly active users (MAUs). Instead, the company began to report what it calls monetizable daily active users (mDAUs) last quarter.
Twitter still expects that its cash operating expenses will increase with more than 20% YoY in 2019, as it continues to invest in “health, conversation, revenue product and sales, and platform.”
Twitter’s stock slid after its previous earnings report when it provided light guidance for the first quarter, but it is still up about 10% over the past 12 months.