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Twitter, Inc. (TWTR) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

SEC Filings

Twitter, Inc.

CIK: 1418091 Ticker: TWTR

Exhibit 99.1
Twitter Q3 2020 Shareholder Letter
San Francisco, CA
October 29, 2020
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. The sum of individual metrics may not always equal total amounts indicated due to rounding.
_______
Highlights
Advertisers significantly increased their investment on Twitter in Q3, engaging our larger audience around the return of events and increased product launches, driving revenue to $936 million, up 14% year over year.
Average monetizable DAU (mDAU) grew 29% year over year to 187 million, driven by global conversation around current events and product improvements. Average mDAU grew 1 million sequentially, reflecting increased retention across new and recently reactivated accounts due to the ongoing impact of product improvements.
We made progress on our brand and direct response products, with updated ad formats, improved measurement, and better prediction. We continue to iterate on our revamped Mobile Application Promotion (MAP) offering and have decided to delay general availability until 2021, when we can integrate expected new industry-standard mobile privacy requirements.
Advertisers significantly increased their investment on Twitter in Q3, engaging our larger audience around the return of events and increased product launches, driving revenue to $936 million, up 14% year over year.
Total revenue was $936 million in Q3, an increase of 14%. Total US revenue was $513 million, an increase of 10%. Total international revenue was $424 million, an increase of 18%. Japan remains our second largest market, contributing $132 million, an increase of 3% in Q3.

Total advertising revenue was $808 million, an increase of 15%. Improved demand toward the end of Q2 continued throughout Q3 as advertisers around the world significantly increased their investment on Twitter, seeking to engage our larger audience around the return of events as well as increased and previously delayed product launches.

Data licensing and other revenue totaled $128 million, an increase of 5%, driven by continued growth in Developer and Enterprise Solutions (DES).

Operating income totaled $56 million, or 6% of total revenue, compared to $44 million, or 5% for the same period in 2019. We delivered net income of $29 million, net margin of 3%, and diluted EPS of $0.04.

Average monetizable DAU (mDAU) grew 29% year over year to 187 million, driven by global conversation around current events and product improvements. Average mDAU grew 1 million sequentially, reflecting increased retention across new and recently reactivated accounts due to the ongoing impact of product improvements.

Year-over-year growth in mDAU remained strong in Q3, with average mDAU of 187 million, up 29%. Growth continued to be broad-based, with double-digit growth rates in all top 10 markets and a healthy top of funnel. We grew US mDAU by 20% and international mDAU by 32%.

1

The following information was filed by Twitter, Inc. (TWTR) on Thursday, October 29, 2020 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 Operations
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 - 2020 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 - 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 - Additional Information (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)
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)
Net Income (Loss) Per Share
Net Income (Loss) Per Share (Tables)
Net Income (Loss) Per Share - Additional Information (Details)
Net Income (Loss) Per Share - Antidilutive Securities (Details)
Net Income (Loss) Per Share - Calculation Of Eps (Details)
Operating And Finance Leases
Operating And Finance Leases (Tables)
Operating And Finance Leases - Additional Information (Details)
Operating And Finance Leases - Summary Of Future Lease Payments Under Leases And Sublease Income (Details)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Property And Equipment, Net - By Geographic (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)
Senior Notes And Convertible Notes
Senior Notes And Convertible Notes (Tables)
Senior Notes And Convertible Notes - Additional Information (Details)
Senior Notes And Convertible Notes - Components Of Notes (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: 0001418091-20-000202
Submitted to the SEC: Fri Oct 30 2020 4:17:59 PM EST
Accepted by the SEC: Fri Oct 30 2020
Period: Wednesday, September 30, 2020
Industry: Computer Programming Data Processing

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