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Twitter, Inc. (TWTR) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

SEC Filings

Twitter, Inc.

CIK: 1418091 Ticker: TWTR

Exhibit 99.1
Twitter Q3 2019 Shareholder Letter
San Francisco, CA
October 24, 2019
Except as otherwise stated, all financial results discussed below are presented in accordance with generally accepted accounting principles in the United States of America, or GAAP. As supplemental information, we have provided certain non-GAAP financial measures in this letter’s supplemental tables, and such supplemental tables include a reconciliation of these non-GAAP measures to our GAAP results. All growth rates referenced below are year-over-year unless otherwise indicated. Also, please note that, as of Q2’19, we are no longer providing a slide deck as part of our quarterly disclosure package. All information previously provided in our slide deck is now provided in the Selected Company Metrics and Financials PDF posted on our IR site.
Highlights
We grew average monetizable DAU (mDAU) 17% year-over-year, reaching 145 million in Q3, driven by ongoing product improvements. In Q3 we made a number of improvements including continuing to increase relevance in the Home timeline and notifications.
Q3 revenue was $824 million, up 9% year-over-year, reflecting strength in September in the US, as well as a number of headwinds including revenue product issues and greater-than-expected advertising seasonality in July and August. Operating income of $44 million reflects lower-than-expected revenue and no significant changes to our ongoing investments.
We continued to make progress on health. In Q3 we gave people more control over their conversations on Twitter with the launch of author-moderated replies in the US, Canada, and Japan, and we improved our ability to proactively identify and remove abusive content, with more than 50% of the Tweets removed for abusive content in Q3 taken down without a bystander or first-person report.
We grew average monetizable DAU (mDAU) 17% year-over-year, reaching 145 million in Q3, driven by ongoing product improvements. In Q3 we made a number of improvements including continuing to increase relevance in the Home timeline and notifications.
We are working to make it easier for people to find what they are looking for when they come to Twitter by organizing content around topics and events, and making it easier to follow and join conversations.
To that end, in Q3 we continued to improve our machine-learning models to provide more relevant content in people’s Home timelines and notifications. We also improved our onboarding flow with the ability to select a preferred language on sign-up, a feature that is currently live on Android in 13 countries and rolling out on iOS soon.
Even if people don’t know which accounts to follow, we want to make it easier to find the best content on Twitter. In Q3 we began experimenting with the ability to follow topics, which is just like following an account, except that instead of seeing Tweets from an account, people see Tweets about a topic. The feature is currently being tested on Android, iOS, and web across a variety of topics including sports, K-pop, and gaming, with plans to expand to more topics, including sports teams, celebrities, and television shows, soon.
We’re also making it easier for people to follow what’s happening with their specific interests on Twitter using lists they’ve created or to which they’ve subscribed. In Q3 we added the ability for people to pin up to five lists alongside their Home timeline on iOS. People can easily rearrange and swipe to access specific lists from their Home timelines, making it easy to jump between a set of timelines tailored to their interests. We plan to make it even easier for people to create and share lists about specific interests and find relevant lists from others.
We have also begun experimenting to make it easier to follow and join conversations, including a feature that highlights replies in conversations when the reply comes from the author, someone who’s @mentioned, or someone a person follows, making it easier for a reader to understand who’s contributing to the conversation.

1

The following information was filed by Twitter, Inc. (TWTR) on Thursday, October 24, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Twitter, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Accrued And Other Current Liabilities
Accrued And Other Current Liabilities (Details)
Accrued And Other Current Liabilities (Tables)
Acquisitions And Other Investments
Acquisitions And Other Investments - 2019 Acquisition (Details)
Acquisitions And Other Investments - Investments In Privately-Held Companies (Details)
Cash, Cash Equivalents And Short-Term Investments
Cash, Cash Equivalents And Short-Term Investments (Tables)
Cash, Cash Equivalents And Short-Term Investments - Additional Information (Details)
Cash, Cash Equivalents And Short-Term Investments - Contractual Maturities (Details)
Cash, Cash Equivalents And Short-Term Investments - Schedule Of Components (Details)
Cash, Cash Equivalents And Short-Term Investments - Summary Of Unrealized Gains And Losses (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Summary Of Commitments To Settle Contractual Obligations In Cash (Details)
Convertible Notes
Convertible Notes (Tables)
Convertible Notes - Additional Information (Details)
Convertible Notes - Components Of Notes (Details)
Description Of Business And Summary Of Significant Accounting Policies
Description Of Business And Summary Of Significant Accounting Policies (Details)
Description Of Business And Summary Of Significant Accounting Policies (Policies)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Details)
Fair Value Measurements - Schedule Of Fair Values Of Outstanding Derivative Instruments (Details)
Fair Value Measurements - Schedule Of Financial Instruments On A Recurring Basis (Details)
Geographical Information
Geographical Information (Details)
Geographical Information (Tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Details)
Goodwill And Intangible Assets - Schedule Of Estimated Future Amortization Expenses (Details)
Goodwill And Intangible Assets - Schedule Of Goodwill Activities (Details)
Goodwill And Intangible Assets - Schedule Of Intangible Assets (Details)
Income Taxes
Income Taxes (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Components Of Lease Cost (Details)
Leases - Summary Of Future Lease Payments Under Leases And Sublease Income (Details)
Leases - Summary Of Other Information Related To Leases (Details)
Net Income Per Share
Net Income Per Share (Tables)
Net Income Per Share - Additional Information (Details)
Net Income Per Share - Antidilutive Securities (Details)
Net Income Per Share - Calculation Of Eps (Details)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Related Party Transactions
Related Party Transactions (Details)
Revenue
Revenue (Tables)
Revenue - Additional Information (Details)
Revenue - Revenue By Services And Revenue By Geographic Area (Details)
Revenue - Summary Of Contract Balances (Details)
Revenue - Summary Of Revenue Expected To Recognize On Remaining Performance Obligations Over The Time Periods (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Details)
Stockholders' Equity - Compensation Expense Allocated (Details)
Stockholders' Equity - Summary Of Prsus Activity (Details)
Stockholders' Equity - Summary Of Rsu Activity Excluding Prsus And Tsr Rsus (Details)
Stockholders' Equity - Summary Of Tsr Rsus Activity (Details)

Material Contracts, Statements, Certifications & more

Twitter, Inc. provided additional information to their SEC Filing as exhibits

Ticker: TWTR
CIK: 1418091
Form Type: 10-Q Quarterly Report
Accession Number: 0001418091-19-000008
Submitted to the SEC: Tue Oct 29 2019 3:20:17 PM EST
Accepted by the SEC: Wed Oct 30 2019
Period: Monday, September 30, 2019
Industry: Computer Programming Data Processing

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