When Twitter Inc. (NYSE: TWTR) released its third-quarter financial results before the markets opened on Thursday, the social media giant said that it had $0.21 in earnings per share (EPS) and $758.1 million in revenue. That compared with consensus estimates of $0.14 in EPS and $702.57 million in revenue, as well as the $0.10 in EPS and $589.63 million posted in the same period of last year.
During the latest quarter, average daily active users increased 9% year over year, compared to 14% in the same period of the previous year and compared to 11% in the previous quarter.
At the same time, average monthly active users numbered 326 million for the third quarter, compared to 330 million in the same period of the previous year and to 335 million in the previous quarter.
Looking ahead to the fourth quarter, the company expects to see adjusted EBITDA in the range of $320 million to $340 million with an adjusted EBITDA margin between 39% and 40%. Consensus estimates call for $0.23 in EPS and $837.96 million in revenue for the quarter.
Jack Dorsey, Twitter’s CEO, commented:
We’re achieving meaningful progress in our efforts to make Twitter a healthier and valuable everyday service. We’re doing a better job detecting and removing spammy and suspicious accounts at sign-up. We’re also continuing to introduce improvements that make it easier for people to follow events, topics and interests on Twitter, like adding support for U.S. TV shows in our new event infrastructure. This quarter’s strong results prove we can prioritize the long-term health of Twitter while growing the number of people who participate in public conversation.
Shares of Twitter were last seen up about 19% at $32.85 on Thursday, with a consensus analyst price target of $33.09 and a 52-week trading range of $17.03 to $47.79.