Twitter, Inc. (NYSE:TWTR) Q3 2018 Earnings Conference Call - Final Transcript

Oct 25, 2018 • 08:00 am ET

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Twitter, Inc. (NYSE:TWTR) Q3 2018 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen and welcome to the Twitter Third 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, VP, IR. Please go ahead.

Executive
Krista Bessinger

Great. Thank you. Hi, everyone, and thanks for joining our Q3 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 IR website a little while ago.

This morning we'll begin with just a few brief 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 hashtag #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 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.

Executive
Jack Dorsey

Good morning, everyone. We're going to try something a little bit different. Instead of reading prepared remarks, I'm just going to spend a few minutes talking about some of the highlights we've had over the quarter.

Wanted to start with our purpose; our purpose is to serve the public conversation, and we have a singular objective within that purpose which is around increasing health of the public conversation. As a reminder, health is a framework for us that allows us to think cohesively around abuse, misinformation, echo chambers and manipulation.

And the first thing I wanted to highlight is we continue to make really steady progress against some of the health initiatives that we're seeing, most notably, this quarter around suspicious signups. So we saw a 20% decrease since introducing some new techniques. We see a lot more spammy signups prevalent on the web. And as we detailed in our Shareholder Letter, we've seen a decrease in web daily usage and a double-digit growth on mobile daily usage. We tend to see a lot more of the sort of scripted automation coming through the web versus the API. So this is pretty meaningful in terms of our objective around increasing health.

And as another reminder, we do see health as a growth factor over the long-term. This is an extremely important initiative to us not only for the experience of Twitter, but we believe the long-term growth of a platform, and we're really proud of our progress so far. We've seen continued usage increase and growth of