.Twitter Tops Q1 Financial Targets, Daily Users Up 33% Amid Coronavirus Pandemic
outbreak — while the company netted a whopping 14 million daily active users, up 33% year over year.
Revenue was $808 million in Q1, up 3% year over year, “reflecting a strong start to the quarter that was impacted by widespread economic disruption related to COVID-19 in March,” CFO Ned Segal said in prepared comments. Twitter posted a Q1 net loss of $8 million; adjusted net income was $66 million . Analysts expected Twitter to report $776 million in revenue and adjusted EPS of 10 cents.
In reporting Q1 results, Twitter declined to provide an outlook on the business for the current quarter . “Given the unprecedented uncertainty and rapidly shifting market conditions of the current business environment, we are not providing quarterly revenue or operating income guidance for Q2,” the company said.“In this difficult time, Twitter’s purpose is proving more vital than ever,” Twitter CEOsaid in announcing results.
Total ad engagements increased 25% year-over-year in the first quarter, Twitter said. U.S. revenue totaled $468 million, up 8% year-over-year, while international revenue dropped 4% to $339 million.same period of the previous year and compared to 152 million in the previous quarter. Average U.S. mDAUs were 33 million for Q1, compared to 28 million in the same period of the previous year and compared to 31 million in the previous quarter.
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