Twitter (TWTR) 6 Feb 202019 Q4 Earnings call transcript

Good day, ladies and gentlemen and welcome to the Twitter Fourth Quarter and Full Year 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time.

I would now like to turn the call over to your host, Krista Bessinger, Vice President, Investor Relations. Please go ahead.

for QX thanks conference and everyone, joining earnings our call. Hi,

us Jack and have today. Ned We with

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us tweet please at So, @TwitterIR using $TWTR. the

call, will and the this full during operational statements. Also, and our XXXX of strategies. we our Those like are things year QX plans forward-looking for outlook and make

contemplated should indication and by our results actual performance. Our forward-looking not as an our those you reported of results future could differ from consider statements materially

statements law. these today update information We by required and forward-looking disclaim to of them any we are based duty to us unless as on making later available

our will XX-Qs Please our the our differ. financial most this in take and could a look factors of recent XX-K that non-GAAP we in Also filings with Factors the to section Risk call, cause SEC, a our discuss discussion in for certain results especially the measures. during at

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Jack. over to turn And with that, it to like I’d

call. highlights thanks before our fourth and A your to Good morning, Ned for questions. joining everyone, few and we get from quarter

Twitter. XXXX for great year was a

the the we making relevant is on instantly improvements core directly in service XX to mDAUs XXXX added More million than driven of our product. half more the focus were compounding. Our

an foundation XX% bringing growth usage, build million strong incredibly year-over-year our saw alone, quarter is in highest active reported, upon. XXX to to This us we This daily mDAU.

four on I'll look forward, about focused We're we each priorities now. as talk

trust. we'll our velocity First, development increase and

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now, to Ned. over And

Jack. Thanks,

with we into growth in $X.XX year-over-year. United mDAU billion, States. Q&A, Before constant up also by basis, revenue points. up a on reached currency driven couple a with a of on constant XX% the was basis, ad to XX% year Total get XX% strong XX% up revenue primarily finish I'll a currency highlight QX

year-over-year driven strength operating the was particular delivered ads mentioned, revenue across As year-over-year. U.S. despite largely headwinds, performance geographies, up XX% product this in in major resulting XX% with by most We Jack solid improvements. MAP up

billion-dollar also We first quarter. our had

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expect research. objectives our we this design that and work, about for the by more engineering, product bit with in XXXX. a focus To grow headcount to or support year, talked Jack XX%

approximately XXXX, anticipated course to decisions dollars expect the over made year. absolute XX% our the previous operating XXXX revenue we in include and investment expenses of headcount Given total growth, which years ramping expenses of all in cost in grow and

your ready we're that, Operator? to With questions. take

UBS. from question line of Eric comes of [Operator Sheridan Our the Instructions] first

of lower the show mDAU a I'd funnel. some funnel can. the little today there. from if the curious have very to I there? funnel you, some on two, be off Maybe the talk the momentum of you're evolving Jack the about top color mDAU, additional MAUs product you're continue to for Maybe that's to into how at bit just compared and innovation what a onboarding seeing and down growth, process you get doing the translating lot of

And time CapEx XXXX nature we CapEx in that Thanks much. side, called that XXXX. against investment over you expenditures the one of is versus guidance, needs understand I center business know, the the maybe thinking one capital wanted How then, in out be much so about the Ned if should can in to longer term? baseline the data for that investors on on

jump Thanks, to add if wants anything side, the both, Eric. I'll and audience take he’ll in. Jack on

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And the U.S. XX and feel markets delivered our in breadth we that if both. grew mDAU of digits XX% growth the where we look in like all the quarter we with growth breadth this top you XX% growth lots double opportunity So, at opportunity. internationally, in that the of of demonstrates

question on second Your was CapEx.

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Doug of of comes Anmuth Morgan. JP question from the next Our line

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Thanks Doug. for question, the

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Hey, Doug.

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Thanks, take Heath. both. I'll

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you are on increasingly the looks? Any color outlook how in about ad XXXX? Great. guys budget So, the in pipeline commitments confident feeling there

Ross. Thanks,

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Thanks for the question.

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next line Mark of of Mahaney from Our comes question RBC.

ad users And to to really had particular that allow experiences you event are Cup any year, like you've users? for plans marketing this questions, what The past, maybe Olympics, the for there in are as for you a your participate products in the sponsorships Two Thanks. have spend? please. or is related World major with new will the that Olympics

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[Multiple is on to the to Speakers] sorry, excited first second get I'll on the Hey, take Jack Mark. the Olympics. part part. so

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And Ned. then, or a of for you big picture either sort just

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Yes.

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Yes. These are just sequences.

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questions. Two

the per time commentary change First user? the engagement visits notably? And on grew business -- last on you Are X% then, user of growth. you per year. secondly, see or spent DAU data Any the amount seeing

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Justin. Thanks,

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that remember, other two licensing data there's the to revenue pieces On side, line. and

could new help also of we business. to but is and opportunity existing about contract people term And the the The we executed and strategy we proves solutions a to made in renew of find type execution. where for seeing their build opportunity, we'd growth data we're around our that right a our front bringing well business right lots And we to over APIs. customers as so moderate. feel year in good expected data who continue our lots We there. opportunity around other there's mentioned rate That the our us APIs or create the be ago, our we case, further premium more we us first still customers enterprise both, that and really business the to of said on the

there is the MAP, ways that direct work path our a mobile piece is, benefit second that's good the do And MoPub But, holding work MoPub our forward. of we've that down exchange. as well. And MoPub, response as rate think The a which got we ad should to benefit is one growth starting oriented continue and we got bit. around ad more will formats, with we've

Walmsley Our comes Bank. Deutsche line the of next question Lloyd of from

I if Two, can.

community? you sense guys specific growth. excitement into share quickly kind you user advertisers is you going as Anything from impacting conversations And on of improvement of the there great. growth just can platform cohort the the big we behavior newer strong fairly those would in and in particularly users the feel ad groups, just you give interest be secondly, user ad back Does events? see do overall translate us how to retention with community? in growth then, the user just First, into continuing Can acceleration quadrennial of the for Do some to get the like newer a traction? your make in

Thanks, Lloyd.

about are helping explore coming the growing, where sentiment, are strong. thought see to learn leaders really to who they growing in on, where platform it that First invest to a audience around advertiser they their be are form they their know products opinions want continues and there And product.

valuable strong audience resonates; most think they've that thinking with And points conversations When sentiment I they the show, consumer have objectives. embraced we've the invest. our in to to when that launch resonates that's the the really that and our order are other we at helped or tell remains in place So, happening, want most something decide those or to they're connect ton, we're a the electronics as receptive, years, about during at things whether to we the really got new with that us advertisers when which well. we if share them them with what's

our service. are and what to way sentiment about at the of people cohorts that and with new terms Twitter, engagement use their we pleased we good to is feel how continue contributing who of the to DAU growth we So, be that. in they When we see advertiser look

content that of there's we cohorts should they them. more to surfacing and should lots report that nothing but know to But, help in them, behaving. of new even better job them, follow, there's a better also do know terms can the there We're do we we We follow. they doing for they're can topics that for accounts how

Operator, you. we Thank question, I last have think for please. one time just

be Levine will today question from Michael of Research final Pivotal Our Group.

in issues second around categorize you. still MAP? Two questions guess, of what able One, would R&D the of -- in basically, folks which event on is know rectify Japan, do the a terms is, to be of MAP a have a that And versus catalyst. basically been here's having that be market? innovating can Do you being advance how focused MAP front as I in for DR the you the think big is rectified could lot to scenario on a Olympics question big I

R&D. On questions, the for Michael. thanks So,

health last identify always that we we XX%, around people our the learning quarter half shouldn't linked than tweets So, The to be abuse it's to revenue us. before we the reduced hard we're that be think mentioned point doing same proactive which reports work that quarter of on we by work content the to directly is technology to service to where the that bystander identifying out we true as and we've is solutions, we people it machine where products. finding more around them whether the lead that opposed this try through do with or in mentioned action, through we're

MAP we’re and move will We’re to rebuilding to over for experiment the allow faster. leading faster time faster, the innovate direct new ad version of us Advertising server, out coming response. us with and more

think R&D think So, products. leading we we about revenue about when with certainly the

On the Olympics.

connecting that really existing in what's feel experience us, the offerings, think to with done much it a we the with as see is of Twitter. deliver we direct when feel When important larger highlights, great around as with about for like about response related the will MAP. starting and event, lot the for quadrennial you opportunity think we're like can, on pre-roll our and during the Olympics That we're with have happening a advertisers the So, well-positioned advertising that can Olympics, we that we've We we say saw often you the well-positioned focused to you service us launching and Super format. feel existing to version our the the we're more step back that that make address not means like but these, you positioned see around that well the soon Olympics. and formats. around to summer, just ad isn't that we the are as deliver And really new also Bowl we about ad things part the see it that feel on as the on help of work with video, to we're a bigger like MAP, of

over the for now to closing back I'll call turn management remarks.

speaking All interest to look quarter. us. joining with We right. your Thank you you We forward for in appreciate next Twitter.

today. my XXth, San see Twitter dad's in on It's the Before will opens, report it's and birthday all then. happy we I then still. listening, before wrap, on here listener. he's my sure although before Francisco We I I'm market QX to dark and you just April want next And and to up earnings early for birthday say, favorite XXth

today's call. gentlemen, participating. concludes this and Ladies you conference Thank for

disconnect. may You now