Twitter Inc. (NYSE: TWTR) released its second-quarter financial results before the markets opened on Thursday. The company said that it had $0.08 in earnings per share (EPS) and $574 million in revenue, compared with consensus estimates from Thomson Reuters that called for $0.05 in EPS and revenue of $536.62 million. In the same period of last year, the social media company posted EPS of $0.13 and $601.96 million in revenue.
Average monthly active users (MAU) totaled 328 million for the quarter, up 5% year over year, as well as compared to 328 million in the previous quarter. Average daily active users (DAU) grew 12% from last year, marking the third consecutive quarter of double-digit growth.
In terms of guidance, Twitter expects to see EBITDA in the range of $130 million to $150 million, with a margin in the range of 25% to 26% for the third quarter. The consensus estimates call for $0.07 in EPS and $568.63 million in revenue for the coming quarter.
Jack Dorsey, Twitter’s CEO, commented:
We’re proud that the product improvements we’re making continue to increase their overall contribution to Twitter’s growth. Monthly active usage (MAU) increased 5% year-over-year and daily active usage (DAU) increased 12% year-over-year, marking the third consecutive quarter of double-digit growth. We’re strengthening our execution, which gives us confidence that our product improvements will continue to contribute to meaningful increases in daily active usage. We’re also encouraged by the progress we’re making executing against our top revenue generating priorities as we focus on making Twitter the best place to see and share what’s happening, where you can see every side and perspective.
Shares of Twitter closed Wednesday at $19.61, with a consensus analyst price target of $15.44 and a 52-week range of $14.12 to $25.25. Following the release of the earnings report, the stock was down nearly 10% at $17.73 in early trading indications Thursday.