Twitter announces 28% revenue up in Q 1

Twitter, Inc. on Thursday announced financial results for its first quarter of 2021 with total revenue of 1.04 billion U.S. dollars, up 28 percent year over year, reported Xinhua.

Its quarterly net income amounted to 68 million dollars, representing a net margin of 7 percent and diluted earnings per share (EPS) of 0.08 dollar, compared to a net loss of 8 million dollars, a net margin of -1 percent and diluted EPS of -0.01 dollar in the same period of the previous year.

The company's average monetizable daily active users (mDAU) were 199 million for the first quarter, compared to 166 million in the same period of the year 2020.

"Average monetizable DAU reached 199 million, up 20 percent year over year and up 7 million sequentially, driven by ongoing product improvements and global conversation around current events," said Jack Dorsey, Twitter's CEO.

"Q1 was a solid start to 2021 ... reflecting accelerating year-over-year growth in MAP revenue and brand advertising that improved throughout the quarter," said Ned Segal, Twitter's CFO.

"Advertisers continue to benefit from updated ad formats, improved measurement, and new brand safety controls, contributing to 32 percent year-over-year growth in ad revenue in Q1," Segal noted.

The company's advertising revenue totaled 899 million dollars. Data licensing and other revenue totaled 137 million dollars, an increase of 9 percent year over year.

U.S. revenue totaled 556 million dollars, an increase of 19 percent year over year.

International revenue totaled 480 million dollars, up 41 percent, or 38 percent on a constant currency basis.

"We continue to expect total revenue to grow faster than expenses in 2021, assuming the global pandemic continues to improve and that we see modest impact from the rollout of changes associated with iOS 14.5," the company said.

For the second quarter of 2021, the company expects its total revenue to be between 980 million and 1.08 billion U.S. dollars.

For the whole fiscal year of 2021, its stock-based compensation expense is expected to be approximately 600 million dollars. Capital expenditures are expected to be between 900 million and 950 million dollars, according to Twitter.