Twitter, Inc. (NYSE:TWTR) Q2 2018 Earnings Conference Call - Final Transcript

Jul 27, 2018 • 08:00 am ET


Twitter, Inc. (NYSE:TWTR) Q2 2018 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Twitter Second Quarter 2018 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, IR. 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 CFO, Ned Segal. We hope you had a chance to read our shareholder letter published on our IR 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)

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 IR 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.

Jack Dorsey

Good morning from San Francisco, and thank you all for joining us. As you saw from our results, we reported a solid quarter, we achieved strong revenue growth, made important progress in our health initiatives and rolled out product updates that make it easier to find and follow breaking news and events. These efforts deliver real tangible improvement to the experience people have.

Before I talk in detail about each of those items, I want to take a step back and provide some context to our results. A few weeks ago, a reporter tweeted, What app has changed your life the most in the past 10 years? Musa Tariq responded, Twitter. Introduced me to my wife, some of my best friends, my mentors, my best hires and colleagues, and through it I learn from people I only could have dreamt of prior to its existence. That experience, like millions of other, illustrates the unique value of Twitter and shows the important role it plays in everyday life.

Here are three other recent moments we wanted to highlight. People use Twitter to talk about what's happening. There were 72,000 tweets per minute at the end of Game 1 of the NBA Finals when J.R. Smith dribbled out the clock instead of taking a shot. Dub Nation thanks you, J.R.

Twitter provokes conversation. When Serena Williams tweeted, She took her first steps. I was training and missed it. I cried. It prompted an outpouring of support and started a dialogue about the challenges working mothers face. Twitter catalogs defining moments in history. Some of