On a GAAP basis, net income was $1.1 billion, or $1.43 per
share, compared to $100 million, or $0.13 per share, in the year-ago quarter.
The results include a significant income tax benefit related to the
establishment of a deferred tax asset. Adjusted net income totaled $37 million,
or $0.05 per share, below the forecasts for $0.19 per share.
Total advertising revenue grew 21% to $727 million, helped by double-digit increases in both domestic and international ad revenue. Data licensing and other revenue rose 4% to $114 million.
Revenue in the US increased 24% to $455 million while international revenue increased 12% to $386 million. Japan remains Twitter’s second largest market, growing 9% year-over-year, and contributing 16% of total revenue during the period.
Average monetizable daily active usage (mDAU) was 139
million, up 14% year-over-year, helped by organic growth, product improvements
and marketing. Average mDAU rose 10% in the US and 15% internationally.
Video continues to be an important part of Twitter’s offerings.
The company announced a number of live and on-demand video content partnerships
across the news, sports and entertainment verticals during the quarter. Twitter
was able to renew its existing partnerships as well as strike new alliances
with prominent partners in this space.
Twitter is also making progress in its efforts to reduce
toxic content on its platform. During the quarter, the company reported an 18%
decline in spammy or suspicious content on its website.
For the third quarter of 2019, Twitter expects total revenue of $815-875 million. For the full year of 2019, the company expects capital expenditures to be between $550 million and $600 million.
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