Q3 revenue came in at $615.9 million, beating the estimates for $605 million. Earnings adjusted for nonrecurring items came in at $0.13 per share, smashing expectations for $0.09.
Importantly, Twitter reported 317 million monthly active users (MAU) during the period, which was up from 313 million in Q2 and stronger than the 315 million analysts were looking for. This was up 3% year-over-year.
Mobile MAUs represented 83% of total MAUs.
Average daily active users grew 7% year-over-year.
“We see a significant opportunity to increase growth as we continue to improve the core service,” Twitter CEO Jack Dorsey said. “We have a clear plan, and we’re making the necessary changes to ensure Twitter is positioned for long-term growth. The key drivers of future revenue growth are trending positive, and we remain confident in Twitter’s future.”
Management announced that in its efforts to streamline the organization that it would be cutting up to 9% of its workforce. This is expected to primarily affect people in Twitter’s sales, marketing, and partnerships divisions.
