Beats on revenue, earnings and user growth. And layoffs, too.
Twitter has real problems, but it is making investors happy today, by beating Q3 expectations.
Twitter reported adjusted revenue of $616 million, and adjusted earnings of 13 cents a share. Wall Street was looking for $605 million and nine cents a share.
Meanwhile the company bumped up its monthly user count to 317 million people worldwide. Investors figured Twitter would end the quarter with 316 million users.
Twitter didn’t provide guidance for the fourth quarter, because it said a re-org of its salesforce — it is laying off about 350 people companywide — “could have an impact on the company’s revenue performance,” which means “there is a wider range of potential revenue outcomes.”
But Wall Street seems fine with that for now. Twitter shares are up more than 4 percent.
Here’s RBC analyst Mark Mahaney’s quarterly “cheat sheet”, so you can match Twitter’s numbers versus expectations.