Headquartered in San Francisco, CA, Twitter Inc is a platform that connects a user to a network of people, news, ideas, opinions and information on a global scale. A user can tweet his/her take on any subject in real time, which can be retweeted by others. Tweets are limited to 140 characters.
Zacks Rank: Currently, Twitter has a Zacks Rank#3 (Hold) but that could change following its third quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Twitter reported adjusted loss per share of 10 cents that came in narrower than the Zacks Consensus Estimate of loss of 15 cents. Twitter’s users grew from 313 million monthly average users (MAUs) to 317 million MAUs this quarter, up 1.3% sequentially. Mobile MAUs were 83% of total MAUs.
Revenue: Revenues of $615.9 million beat Zacks Consensus Estimate of $605.7 million and grew nearly 8.2% year over year.
Key Stats: In the quarter, the company reported loss from operations to the tune of $78.1 million, narrowed from $105.2 million reported in the prior year quarter.
Check back later for our full write up on this TWTR earnings report later!
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