Twitter’s Q1 earnings appear to have leaked early and the stock took a hit.
Here are some of the key numbers that were reported by Bloomberg, which cited Tweets from research firm Selerity:
- Revenue of $US436 million, compared to the $US456.8 million expected by analysts.
- EPS excluding certain items of $US0.07, ahead of the $US0.04 expected by analysts.
- Monthly active users of 302 million, in line with Twitter’s forecast and analyst expectations.
Twitter’s stock fell more than 6% before trading in its stock was halted. We are still trying to confirm whether the figures tweeted by Selerity and Bloomberg are authentic. Twitter was not immediately available for comment.
CEO Dick Costolo is under pressure to deliver. The company’s stock has surged 24% in the past three months on expectations that user growth will re-accelerate after a disappointing Q4.
Twitter added a scant 4 million new MAUs in Q4, but the company said that was due to some one-time factors, including a bug in how its service operates with Apple’s latest mobile software, and seasonality. Company executives said user growth would rebound to its typical level of between 13 million and 16 million additional MAUs during the first three months of the year.
Twitter has unleashed a flurry of new products over the past several months, all of which are designed to expand its total number of users and to entice its existing users to spend more time on the service. Among the new offerings are Instant Timeline, which automatically creates a feed with interesting content for new users to peruse, and Periscope, a live-streaming app that Twitter recently acquired.
The San Francisco-based social networking firm’s service is a favourite among journalists, politicians and celebrities, but there are concerns on Wall Street that Twitter does not have the mass appeal of a Facebook (which boasts more than 1.4 billion users), or of other fast-growing mobile apps such as Instagram and WhatsApp.
We’ll update this page with more details once earnings cross the wire. Refresh your browser or hit this link.