Twitter, Inc. (NYSE: TWTR) today announced financial results for its second quarter of 2019.
Revenue totaled $841 million, an increase of 18% year-over-year or 20% on a constant currency basis.
Net income was $1.1 billion, representing a net margin of 133% and diluted EPS of $1.43. Adjusted net income was $37 million, adjusted net margin was 4% and adjusted diluted EPS was $0.05, which all exclude the impact of a significant income tax benefit related to the establishment of a deferred tax asset for corporate structuring for certain geographies.
In the same period last year, Twitter reported net income of $100 million, net margin of 14%, and diluted EPS of $0.13.
For Q3, Twitter expects total revenue to be between $815 million and $875 millio, and operating income to be between $45 million and $80 million
For FY 2019, TWTR expects: GAAP operating expenses to increase approximately 20% on a year-over-year basis in 2019 as we continue to invest for growth and support the top priorities we outlined at the beginning of the year: health, conversation, revenue product and sales, and platform
According to CEO Jack Dorsey, "Health remains our top priority and we are proud of the work we did in Q2. Our focus was on ensuring that our rules, and how we enforce them, are easy to understand.
“We also continued our work to proactively identify and address malicious behavior, resulting in an 18% drop in reports of spammy or suspicious behavior across all Tweet detail pages, which show the replies to any given Tweet on our service."
Shares popped $2.70, or 7.1%, to $40.82 to begin the week’s final session.
