Twitter Investor RelationsVerified account

Mark your calendars for May 13th! @Twitter CFO @nedsegal will be speaking at the @jpmorgan Global Technology, Media and Communications Conference at 8:50am PT / 11:50 am ET. Catch him here live! http://investor.twitterinc.com/events-and-presentations … #JPMTMC

We have filed our Q1 2020 10Q with the SEC: https://www.sec.gov/Archives/edgar/data/1418091/000141809120000089/twtr-20200331.htm …

Have questions? Tweet us your Qs: @TwitterIR using $TWTR

Stock-based compensation expense is closely tied to headcount, timing of grants, and vesting. We have diminished visibility for full year 2020 expenses with reductions in our hiring ramp underway, but we do expect SBC to grow sequentially in Q2 by 25% or more. $TWTR

Capex: While we remain committed to building out a new data center, recent developments may impact capex spend in full 2020. Current IT supply chain constraints are likely to affect timing & elevated near-term capacity needs are driving increased spend on infrastructure. $TWTR

Although we're also not updating our previously withdrawn FY20 outlook for expense and headcount growth, capital expenditures, or stock-based compensation at this time, please note the following: $TWTR

Q2 Outlook: 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. $TWTR

Average international mDAU was 133 million, compared to 105 million in the same period of the previous year and compared to 121 million in the previous quarter. $TWTR

Average US mDAU was 33 million, compared to 28 million in the same period of the previous year and compared to 31 million in the previous quarter. $TWTR

Q1 extended our momentum in mDAU growth with average mDAU of 166 million, up 24%. This is the highest quarterly year-over-year growth rate we’ve seen since we began reporting mDAU growth. We grew US mDAU by 17% and international mDAU by 26%. $TWTR

We continued to generate positive free cash flow, with adjusted free cash flow of $126 million in Q1, compared to $271 million in the same period last year. $TWTR

Capital expenditures totaled $121 million, compared to $81 million in the same period last year, driven by investments we are making in our infrastructure to support audience growth and product innovation. $TWTR

Net cash provided by operating activities in the quarter was $247 million, a decrease from $352 million in the same period last year. $TWTR

We ended Q1'20 with approx. $7.7 billion in cash, cash equivalents, and marketable securities, including $1 billion from a convertible note issued in March related to our partnership w/ Silver Lake; in part will be used for stock repurchase of up to $2 billion over time. $TWTR

We incurred a net loss of $8 million, net margin of -1% and diluted EPS of ($0.01) vs. Q1'19 net income $191 million, net margin 24% & diluted EPS $0.25. Excl. a $124 million tax benefit, adj. net income was $66 million, adj. net margin 8% & adj. diluted EPS $0.09 in Q1'19. $TWTR

Net GAAP benefit for income taxes in Q1 was $7 million. We expect GAAP effective tax rate of 12-22% in the near term, excl. one-time transactions and the impact of tax deductions for stock-based compensation, with some quarterly variability. $TWTR

We incurred an operating loss of $7 million, or -1% of total revenue, vs. Q1'19 operating income of $94 million or 12% of total revenue. The operating income y/y decrease is primarily due to higher personnel-related costs and lower than expected revenue. $TWTR

Stock-based compensation (SBC) expense grew 17% to $98 million and was approximately 12% of total revenue compared to 10% in the prior quarter. We grew headcount as planned earlier in the quarter and ended Q1 with more than 5,100 employees worldwide. $TWTR