Twitter posts 28% revenue growth at $1.04 bn in Q1
The company said that the Q1 costs and expenses totaled $984 million, an increase of 21% year-over-year
Microblogging platform Twitter's Q1 revenue totaled $1.04 billion, an increase of 28% year-over-year. Advertising revenue totaled $899 million, an increase of 32%, or 30% on a constant currency basis.
US revenue totaled $556 million, an increase of 19% year-over-year. International revenue totaled $480 million, an increase of 41%, or 38% on a constant currency basis.
The company said that the Q1 costs and expenses totaled $984 million, an increase of 21% year-over-year. This resulted in an operating income of $52 million and a 5% operating margin, compared to an operating loss of $7 million or -1% in the same period of the previous year.
Q1 net income was $68 million compared to a net loss of $8 million in the same period of the previous year.
Total ad engagements increased 11% year-over-year. Cost per engagement (CPE) increased 19% year-over-year. Data licensing and other revenue totaled $137 million, an increase of 9% year-over-year.
“People turn to Twitter to see and talk about what’s happening, and we are helping them find their interests more quickly while making it easier to follow and participate in conversations,” said Twitter CEO Jack Dorsey. “Average monetizable DAU (mDAU) reached 199 million, up 20% year over year and up 7 million sequentially, driven by ongoing product improvements and global conversation around current events.”
“Q1 was a solid start to 2021, with total revenue of $1.04 billion up 28% year-over-year, reflecting accelerating year-over-year growth in MAP revenue and brand advertising that improved throughout the quarter,” said Twitter CFO Ned Segal. “Advertisers continue to benefit from updated ad formats, improved measurement, and new brand safety controls, contributing to 32% year-over-year growth in ad revenue in Q1.”
Net cash provided by operating activities in the quarter was $390 million, compared to $247 million in the same period last year. Capital expenditures totaled $179 million, compared to $121 million in the same period last year, driven by infrastructure investments in data center build-outs to support audience growth and product innovation.
Twitter stated that the average monetisable daily active users (mDAU) were 199 million for Q1, compared to 166 million in the same period of the previous year and compared to 192 million in the previous quarter. The average US mDAU were 38 million for Q1, compared to 33 million in the same period of the previous year and compared to 37 million in the previous quarter. Average international mDAU were 162 million for Q1, compared to 133 million in the same period of the previous year and compared to 155 million in the previous quarter.
For Q2’21, the company has forecast total revenue to be between $980 million and $1.08 billion. GAAP operating loss is expected to be between $170 million and $120 million.
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