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Twitter Announces Q2 Results

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Twitter has officially rolled out their financial reports related to Q2 2022.

Per the official statement:

Q2 average monetizable daily active usage (mDAU) was 237.8 million, up 16.6% compared to Q2 of the
prior year. The increase was driven by ongoing product improvements and global conversation around
current events.

o Average US mDAU was 41.5 million for Q2, up 14.7% compared to Q2 of the prior year.

o Average international mDAU was 196.3 million for Q2, up 17.0% compared to Q2 of the prior year.

• Q2 revenue totaled $1.18 billion, a decrease of 1% year-over-year, or an increase of 2% on a constant
currency basis, reflecting advertising industry headwinds associated with the macroenvironment as well as
uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk. When excluding
MoPub and MoPub Acquire, year-over-year growth was 3%.1

o Advertising revenue totaled $1.08 billion, an increase of 2%, or 6% on a constant currency basis.

o Subscription and other revenue totaled $101 million, a decrease of 27% year-over-year, or an
increase of 7% year-over-year when excluding MoPub from the year ago period.

1
• Costs and expenses totaled $1.52 billion, an increase of 31% year-over-year.

o Costs related to the pending acquisition of Twitter were approximately $33 million in Q2.

o Severance-related costs were approximately $19 million in Q2.

• Operating loss was $344 million, representing a -29% operating margin, compared to operating income of
$30 million or 3% operating margin in the same period last year.

• Net loss was $270 million, representing a net margin of -23% and diluted EPS of -$0.35. This compares to
net income of $66 million, a net margin of 6% and diluted EPS of $0.08 in the same period last year.

• Net cash provided by operating activities in the quarter was $30 million, compared to $382 million in the same
period last year. Capital expenditures totaled $154 million, compared to $276 million in the same period last
year

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