Twitter, Inc. (NYSE: TWTR) saw its shares tumble Thursday, after coming out with financial results for its fourth quarter.
Q4 revenue totaled $909 million, an increase of 24% year-over-year or 26% on a constant currency basis.
GAAP costs and expenses totaled $702 million, an increase of 13% year-over-year. This resulted in GAAP operating income of $207 million and 23% operating margin. Q4 GAAP net income was $255 million, compared to $91 million in the same period of the previous year, representing a GAAP net margin of 28% and GAAP diluted EPS of $0.33.
Said CEO Jack Dorsey, "2018 is proof that our long-term strategy is working. Our efforts to improve health have delivered important results, and new product features like a single switch to move between latest and most relevant Tweets have been embraced by the people who use Twitter
"We enter this year confident that we will continue to deliver strong performance by focusing on making Twitter a healthier and more conversational service."
Q4 adjusted EBITDA was $397 million compared to $308 million in the same period of the previous year, representing an adjusted EBITDA margin of 44%.
Average monthly active users were 321 million for Q4, compared to 330 million in the same period of the previous year and compared to 326 million in the previous quarter.
For Q1, Twitter is projecting total revenue to be between $715 million and $775 million. GAAP operating income to be between $5 million and $35 million
Shares in the social media giant dropped $3.21, or 9.4%, to $30.95
