Twitter, Inc. (NYSE:TWTR) Q2 2017 Earnings Conference Call - Final Transcript

Jul 27, 2017 • 08:00 am ET


Twitter, Inc. (NYSE:TWTR) Q2 2017 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Twitter Second Quarter 2017 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, Senior Director, Investor Relations. Please go ahead.

Krista Bessinger

Hi, everyone, and thanks for joining our Q2 earnings conference call. We have with us today our CEO, Jack Dorsey; and COO and CFO, Anthony Noto. Ned Segal, our newly-announced CFO, officially starts in late August and will join us for our Q3 conference call.

We hope you've had a chance to read our shareholder letter published on our Investor Relations website this morning. Like last quarter, we'll begin with just a few prepared remarks before opening the call directly to your questions. During the Q&A, we'll take questions asked via Twitter, in addition to questions from conference call participants. Questions submitted via Twitter should be directed to @TwitterIR using the #TWTR.

(Forward-Looking Cautionary Statements)

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

Jack Dorsey

Good early morning from San Francisco. Thank you for taking the time to join us. As always, we welcome this opportunity to speak directly to you, our shareholders. You show us your faith in Twitter as an open platform for what's happening in the world and you drive us to do our best work. Profound thanks and gratitude to the people who use Twitter goes without saying, but I say it anyway. They inspire us every day.

Aside from a third consecutive quarter of double-digit growth in daily actives, growth in video and accelerating year-over-year growth in our data revenue, I want to briefly underscore five highlights from this quarter in the areas of focus, growth, product, safety and leadership. You may recognize some of these statements from my first earnings call back in 2015. I emphasize the connection only to illustrate how steadfast our team has been.

In 2015, we mentioned a need to better communicate our value. Twitter is what's happening in the world and what people are talking about. Twitter's value is in focus now more than ever with all functions aligned and marching to the same beat. In 2015, we said simplify our service to deliver Twitter's value faster. We have developed what we believe are simple, steady, and sustainable engines of growth, which brings me into my third point.

In 2015, we asserted a need to ensure a more disciplined execution. Our discipline in this regard is now robust. We're shipping product faster than ever and this empowers us to build features that can enable strong future growth. People are reporting significantly less abuse on Twitter today than they were six months ago. We take action on 10 times the abusive accounts daily compared to this time last year. Blocks after @mentions from people you don't follow are down 40%. Strong progress here, but as always, there's more