Twitter reported financial results for the fourth quarter and fiscal year ended December 31, 2013.
- Q4 revenue of $243 million, up 116% year-over-year
- Q4 net loss was $511 million
- Q4 EPS was ($1.41)
- Q4 adjusted EBITDA was $45 million,
- Full year revenue of $665 million, up 110% year-over-year
- Full year net loss was $645 million
- Full year EPS was ($3.41)
- Full year adjusted EBITDA was $75 million
Dick Costolo (CEO, Twitter): Twitter finished a great year with our strongest financial quarter to date.
Fourth Quarter 2013 Financial Highlights
Revenue – Revenue for the fourth quarter of 2013 totaled $243 million, an increase of 116% compared to $112 million in the same period last year.
- Advertising revenue totaled $220 million, an increase of 121% year-over-year.
- Mobile advertising revenue was more than 75% of total advertising revenue.
- Data licensing and other revenue totaled $23 million, an increase of 80% year-over-year.
- International revenue totaled $66 million, an increase of 200% year-over-year. International revenue was 27% of total revenue.
Net loss – Net loss was $511 million for the fourth quarter of 2013 compared to a net loss of $9 million in the same period last year.
Adjusted EBITDA – Adjusted EBITDA was $45 million for the fourth quarter of 2013 compared to $18 million in the same period last year.
EPS – EPS was ($1.41) for the fourth quarter of 2013 compared to ($0.07) in the same period last year.
Capital expenditures – Purchases of property and equipment for the fourth quarter of 2013 were $29 million. Additionally, $60 million of equipment was procured or financed through capital leases during the fourth quarter of 2013.
Cash, cash equivalents and marketable securities – As of December 31, 2013, cash, cash equivalents and marketable securities were approximately $2.2 billion, compared to $321 million as of September 30, 2013.
Outlook
Twitter’s outlook for the first quarter of 2014 is as follows:
- Revenue is projected to be in the range of $230 million to $240 million.
- Adjusted EBITDA is projected to be in the range of $10 million to $16 million.
Twitter’s outlook for the full year of 2014 is as follows:
- Revenue is projected to be in the range of $1,150 million to $1,200 million.
- Adjusted EBITDA is projected to be in the range of $150 million to $180 million.
- Capital expenditures are projected to be in the range of $330 million to $390 million.
[Image courtesy: Aaron Durand/Twitter]