Twitter Q3 EPS beats estimates

Twitter Q3 EPS beats estimates

Twitter Q3 EPS beats estimates

Twitter’s third-quarter earnings report is out and it’s a mixed bag.

The social media giant reported earnings per share of $0.18. That was enough to beat analyst estimates of $0.15 for the quarter. Meanwhile, revenue barely missed the mark. Revenue for the quarter came in at $1.284 billion, slightly below analyst expectations of $1.285 billion, although revenue is up 37 percent from the prior year.

“At face value, Twitter’s Q3 results were essentially in line with consensus, although shares reflected some underlying concerns that growth and/or guidance would not escape the headwinds caused by Apple IDFA deprecation and supply chain challenges,” said Baird analyst Colin Sebastian.

“Fortunately for Twitter, a bigger mix of brand and top/middle funnel ad spend largely insulates the platform from targeting constraints, consistent with our expectations. We continue to see structural improvements at Twitter, including a faster pace of innovation, but the next critical stage, in our view, is to drive faster audience growth,” Sebastian added.

Twitter (TWTR) closed at $54.28 during regular trading hours on Thursday, October 28. Baird maintains a neutral rating with a 12-month price target of $80. The analyst lists it as a higher-risk stock.

This article is for informational and entertainment purposes only. It is not financial advice. Consult a financial advisor and tax professional before trading.

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