Twitter, Inc. (NYSE:TWTR) Q3 2019 Earnings Conference Call - Final Transcript

Oct 24, 2019 • 08:00 am ET


Twitter, Inc. (NYSE:TWTR) Q3 2019 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Twitter Third Quarter 2019 Earnings Conference Call. [Operator Instructions] 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, Vice President, Investor Relations. Please go ahead.

Krista Bessinger

Great, thank you. Hi, everyone, and thanks for joining our Q3 Earnings Conference Call. We have Jack and Ned with us today. Before they start, I wanted to remind everyone of the format of our call. We published a shareholder letter on our Investor Relations website and with the SEC about an hour ago and hope everyone had a chance to read it. Because the letter has a lot of detail, we'll keep our opening remarks brief and then dive right into your questions.

We'll also take questions asked on Twitter, so please tweet us at @TwitterIR using the #TWTR. Also during this call we will make forward-looking statements. Those are things like our outlook for Q4 and the full year of 2019 and our operational plans and strategies.

Our actual results could differ materially from those contemplated by our forward-looking statements and you should not consider our reported results as an indication of future performance. We're making these forward-looking statements based on information available to us as of today, and we disclaim any duty to update them later unless required by law. Please take a look at our filings with the SEC, especially in the Risk Factors section, in our most recent 10-K and in our 10-Qs for a discussion of the factors that could cause our results to differ.

Also, during this call, we will discuss certain non-GAAP financial measures. We have reconciled those to the most directly comparable GAAP financial measures 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 and an audio replay will be available on Twitter, and on our website in a few hours.

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

Jack Dorsey

Good morning, thanks for joining our third quarter call. A few highlights from me and Ned before we get to your questions. We've talked for quite some time about how our focus on increasing relevance and ease of use will compound into sustainable growth. Today, we're proud to share that nearly half of the 19 million daily customers we've added since the fourth quarter of 2018 can be attributed to the steady refinement of Twitter. This also fueled our results this quarter, a 17% year-over-year increase of daily usage to bring us to 145 million mDAU. This is an incredibly strong foundation to build upon. The steady refinement is just one part of our development portfolio. In parallel, we are rethinking the fundamentals of how Twitter works in order to better address the problems we are seeing. One example of this is our