Twitter, Inc. (NYSE:TWTR) Q4 2017 Earnings Conference Call - Final Transcript
Feb 08, 2018 • 08:00 am ET
Good day, ladies and gentlemen, and welcome to the Twitter Fourth 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.
Hi, everyone, and thanks for joining our Q4 earnings conference call. We have with us today our CEO, Jack Dorsey and CFO, Ned Segal. 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.
We would also like to remind everyone that we'll be making forward-looking statements on this call such as our outlook for Q1 and the full year of 2018 and our operational plans and strategies. Actual results could differ materially from those contemplated by our forward-looking statements and reported results should not be considered as an indication of future performance. Please take a look at our filings with the SEC for a discussion of the factors that could cause our results to differ materially.
These forward-looking statements on this call are based on information available to us as of today's date and we disclaim any obligation to update any forward-looking statements, except as required by law. Also during this call, we will discuss certain non-GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures are included in our Shareholder Letter. These non-GAAP measures are not intended to be a substitute for our GAAP results.
And finally, this call in its entirety is being webcast from our Investor Relations website. An audio replay of this call will also be available via Twitter and on our website in a few hours.
And with that, I would like to turn it over to Jack.
Good morning, everyone, and thank you for joining us today. First, I'd like to take a moment to acknowledge Anthony Noto and all of his impact to Twitter. He's been an incredible advocate for us and a trusted partner to me and our leadership team. Thank you, Anthony. We wish you all the best in your new role. Now let's talk about our results. Q4 was a strong finish to the year with a return to revenue growth, GAAP profitability, and an increased shipping cadence. I'll outline each of these in more detail.
First, we're really proud to report a return to revenue growth in Q4 with total revenue increasing 2% year-over-year, and owned-and-operated advertising revenue increasing 7% year-over-year, reflecting better-than-expected performance across all of our major products and geographies. This was driven by continued strong engagement growth, improvements in our revenue products, improved ROI, and better