Twitter (TWTR) 26 Jul 192019 Q2 Earnings call transcript

Company Profile

Participants

Krista Bessinger	Vice President, Investor Relations
Jack Dorsey	Chief Executive Officer
Ned Segal	Chief Financial Officer
Doug Anmuth	JPMorgan
Colin Sebastian	Baird
Eric Sheridan	UBS
John Blackledge	Cowen
Mark Mahaney	RBC
Lloyd Walmsley	Deutsche Bank
Brian Nowak	Morgan Stanley
Justin Post	Bank of America Merrill Lynch
Mark May	Citi
Heath Terry	Goldman Sachs
Ross Sandler	Barclays

Call transcript

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Operator

Good day, ladies and gentlemen and welcome to the Twitter's Second Quarter 2019 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, Vice President, Investor Relations. Please go ahead.

Krista Bessinger

for QX thanks conference and everyone, joining earnings our call. Hi,

items. us Jack to before housekeeping and have today, cover Ned few wanted We I with but started, we a get

we on company First, deck available will posted slide please which is IR as our that now All of metrics and PDF, disclosure part as is in was note of previously deck, no be provided and providing site. that financials longer our a package. information selected quarterly the QX, our slide

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

disclaim materially available and to contemplated of us, as our information from duty could our by today, forward-looking We're update by any making we law. statements, to unless performance. future required Our results results as actual based statements, you the on differ consider not them indication should those reported an these later, and forward-looking of

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

Jack Dorsey

Krista. Thanks, everyone. for today. us joining Good morning, Thanks

your we few remarks. a monthly year-over-year, the accelerating went for had a get us; revenue QX daily want proud questions, to XX% increase to we we quarter and strong active of that and the Before also into really really XX%, work results our growth into it. effort was and make

top you As know, public priority. health all conversation our of the remains

our how Our enforce focus in that this understand. them, ensuring was we rules and easy to quarter are

language. refreshed simple we clear our with rules and This quarter,

de-humanizes interest provides that introduced our to violate rules We hateful conduct, Twitter of that is we additional others, content that up expanded when clarity our language certain on basis of tweets include leave religion. a new against and public we that on rules. And the define notice

and making important been our to the And on actions abuse to an is address those and us, on sure removing to from progress of a that proactively one malicious really well tweets has proactively identifying our and and and are This initiative means we've of behavior. victims service, equipped harassment made on that the agents burden them. that lot identify take

that resulted service. or all our which on This replies spammy across tweet XX% tweet of show drop given detail the behavior reports any an suspicious are in pages, to pages in the

we're timelines, gains. people's seeing more engaging We're app, some relevant real-time. with in consumer in and much they a providing content larger lot we're are based near what on the In moving and faster,

and they've making international progress which making easier to the customize we've interest. ways well. on they've of to created time a for This been follow experimenting specific people timeline with subscribed, new it within happening to list, as what's We're much their using lot or

allowing time, push available which notifications is countries. the the alerts example, in in than news And the language people we're in set on on more on countries, delivering this select people and soon. settings language real we're Android is which and and flow currently to preferred in enabling breaking on-boarding rolling see now they explicitly to happen Breaking one XX is out live page, content as iOS want in, XX to events

way, participants conversation to initiative conversation, following. it feel the big to label us and author, make including join to for mentions in Another for more We've a make which to with has replies replies been easier in been conversational. Twitter a follow working various ways and clear replies testing

in refining We app, prototype quickly. quarter, our each which has and four quickly TWTTR iterations this learning the iteration. call launched with we been moving And Little T

it example prototype One a for swipe so finding replies. for like so we to fast swipe we like well to support like way like replies, the app. quickly to a was gesture recently difficult for in added as people This received, all were tweets added to

We in the continue launching believe conversations to follow app make much participate will to learn in. from new closer a experience this Twitter main iterations and prototype, we're to our that and easier getting

over with that, it hand And I'll Ned. to,

Ned Segal

Thanks, Jack.

couple Before of feel highlight in wanted DAU just of particular with the and revenue XX% XX% we up on a into good QX Q&A, about growth United We get with our a basis, strength points. to currency XX% I constant States. or performance in

which up in We count is growth head last expect of with pleased year-over-year approximately hiring acceleration now in quarter. XXXX. the an year full from XX% very also QX, of We're XX% pace XX%

to retain and combination The talent and to execution, allowing our and ability strategy us conviction key is recruit headcount of growth. our our increase in

expenses the expect continued for the year-over-year of over grow operating to year. We year GAAP to the expenses course with full XX% approximately ramping

in QX, as factors, note we is we a of by in last second guidance than first driven half revenue growth lower the the half couple global of for year. business the our delivered the is our of range This we comparison XXXX. reflects recovery lap You'll first that face

QX and XX% QX. may in the you two and in United the XX% particularly our in US Japan, markets, we've XX% remember, As States got comps Japan in and and difficult and largest XX%

revenue decisions certain the customers better recent to made to deprecate is in focus drive product. our second, ad we've that in legacy greater formats, order The and serve

our performance ad Increasing mobile a platform product, take stability, in on of download particular, and general and gradual will with quarters application impact the multiple our revenue. place over in scale

important does better years delivering focus more for that our focusing for decisions. better ads creating higher performing come, to over tough term confident near and our on response products, our most but deliver direct path of formats We're customers all time, and it require will stakeholders outcomes to for a

ready take With your Operator? to we're that, questions.

Operator

Doug [Operator Anmuth JPMorgan. Instructions] comes first Your from from question

open. is line Your

Doug Anmuth

you're work efforts on improving health from Can the so do health to And far and here weighing just the helping, for up turned Jack, characterize in safety now you've the user actually Thanks the that talk growth user platform. think work question. security? on drive growth. you of coming taking two how success you you'd on about, years heavy your on Thanks. corner

Jack Dorsey

Doug. Thanks, Yeah.

As we've have talked service. on the efforts do doubling address to before, factor make sure believe our issues a the can about us, we is we and that this seeing that we we're health growth been on call for long-term that all

would to the require focus opening remarks, content in Twitter don't past we violate report. mentioned that our identify has us, over for proactively so big rules, my a I year been on that the As

bystanders. a the and the individuals also in were abuse, know, dependent who our by of you harassment lot content, infrastructure was are who folks upon the of receiving past As reporting

that, significant progress is and want We reports meaningful continue have around. an XX% past made and this we saw to quarter, in build on drop something which to

ahead have technology continue I address I be ongoing be lot a do A to building that leverage health our on the us of confidence believe, we'll for us. one for help continue some problems, lot that and do a great situation. more we'll that of time. work this that it's going believe going to to is to we number initiative priority that is have to quite a an of focus I of - lot to

There will else and better more recognizing anything to dynamics we need better faster. are them to at act them and changing than able but being always faster, address, getting be we on that

a the of organization. We've spent time this organization. think within at lot to broader our looking also shift a agility developer I speaks in

initiative, and faster move We are on products well. as but moving also much us the consumer, revenue much health our to that's much, within within faster allowing

engine, are better more agility are present but everything and we much all sure make finding able initiatives out. that to with we good teams and we the we move the clear to aligning much So, a only on going development in we're that take not focus, forward faster

those we results to continue years, see expect focus, learn excellent from quicken. have really and and past two So over been our and that to the only and really, results I how our execution

Doug Anmuth

Great. Thank you, Jack.

Jack Dorsey

you. Thank

Krista Bessinger

Thanks.

Next question please?

Operator

Colin Your Sebastian next from from question comes Baird.

Your line open. is

Colin Sebastian

of expansion head in increases, areas improved off, well. then development some gain as me you're from productivity from the you couple about What A broadly I and count sales Thank thanks. could terms product if talk the the first will of on guess, you. most more seeing team. that? of - and which Great, the

Jack Dorsey

Colin. Hey,

we've about a grow product greatest is across to invest first, way and revenue the growth sales company's health and As drive last continue to over we continue of talked platform. couple the quarters, the conversation to priorities; to audience,

of headcount the growth those is areas. thinking about really so, all And

DAU potential but We see about productivity continue density and growth, have of continue the add parts our in as partners United of where world just to people can advertising the team to they thinking impact, States. with outside to that important drive not works different we of we the the in some long-term near-term markets where

no the priority areas. how in to our those across thinking So, team changes grow we

Colin Sebastian

you. Thank

Krista Bessinger

Thanks.

Next question please?

Operator

from UBS. Your from next Eric comes question Sheridan

Your line is open.

Eric Sheridan

some two so seems such the political XXXX? election Thanks the but around have platform and big to maybe discourse. pretty for little bigger bit challenges you. a of opportunities, through like a the question. that prepare the the questions given of XXXX opportunity, big for a Twitter's also become you how for opportunity talk Jack, Maybe, picture in nexus much taking The U.S

can real us Olympics, Twitter announcement around and terms tapping in in harbinger big into a long-term? see the other do with you announcement to video And that then, a How so partners product Thanks the and nature from seem pretty live that partnership tap content of as and over positive much. conversation potential Twitter like the which of time. real-time additional into the for ways NBC you

Jack Dorsey

question the for Thanks Yeah. Eric.

is and Twitter keep So, mind a opportunity, see is services. a thing we challenges one elections, to of in do global with but lot also

seen two them. elections We world in lot a the years, all have learned past and the have from over

saw year, Indonesia. Just in elections this Union, in India, Australia, European we the and past

within the or of the we're priority sure the elections integrity one and protecting the making number conversations the elections Our election. is on elections conversations around conversation around

few in manifests This a ways.

to of suspicious foremost, information. amplify of and creation. targeting purchases ad identifying around course logins misleading and transparency to forms First and manipulation account increasing it's challenge and, continue used It's we

country every and significant much of local the faster. misinformation journalists in, we're ground in that misleading and category things on information that as all seeing the that we this in It's we make important election. local also This authorities, really our to one is number focus is the partnership sure with have consider we're

lot certainly a to politics help to and role That carry that news the vast. these countries. said, do people learn an of believe of has the We obviously, all about within conversation we around what's and important see, debates, opportunities are Democratic and Twitter their unfolding around conversations

we way from So, that can immediately. organizing to learn that sure in the are we want a we're present conversation make and people

but the the conversation. also sure and they're can of that an what video conversation as these to think more the talked participate sure of about events. for within terms on crowd, with and live live, to see also we In some make on happened people video people trend More time, Olympics make we that work can is missed these we've a may opine with and in these have calls events the recap everything our an is that of that roar seeing they amazing And can complement reach the amazing to enrich but time. and

much, much we has and conversation So, made more much and we're world stronger something really around Twitter feel that the excited it about to entertainment news, sports, and been these on has to events, from interesting. the

Eric Sheridan

thank Great, you.

Jack Dorsey

Thank you.

Krista Bessinger

please? question Next

Operator

John Your Blackledge Cowen. comes from from next question

open. is line Your

John Blackledge

thanks. on Great, questions A of the DAUs. couple

So, in than was the better second growth expected. quarter, the

And growth. international you If on quarter? of any markets DAU key discuss driving just some in the color the the can of key drivers market strength then

what's past product years? you the versus mentioned improved improvement in driven And agility agility Thank cadence the recently couple you. of then Jack,

Ned Segal

Thanks John. to over turn start and I'll it Jack.

were pleased we performance. So, DAU on our growth of the the breadth with

As DAU and growth the you to double-digit XX%. returned may $XX US have XX% international at noticed, million grew to

about broad-based States out When continue you international we feel on did see as well. didn't unpack and want that geography, of to to see outside good opportunities that we we we the the break United that focus leads the DAU to though, it growth by us

relevance from it. isn't product back an but you we've come can of to to that and in to and some and things. you benefit the and you relevance to later. you make we that the continue think When comments, that that cross list improvements quarter went growth specific opening other driving it's quarters talk step around, quarter, what's about through something service many you the that the the the Jack iterate that who we people about something on service his consider move it's reminder improve that off important It's important DAU done on things after one to quarter, when

the and see few growth done more make that improve to care we most. year-over-year events conversational, of And the relevance, of we've years so, easier to that to it to find work we drive Twitter benefit XX% look the the last to people make and at delivered, topics cumulative this we service, about

it me Jack Let turn to agility question. about the talk to

Jack Dorsey

John, is it's three just big things there I here. focus. guess One,

our around people. third and is is the technology our second around The

focus, we what -- peers in apart now and are know So, us we our of sets we know we've terms and been from competitors. what our

teams of a most to value to much people and it clarifying to way, in stronger that organize We don't has use out can move and quite that us so what know contribute that focus down allowed that's to purpose things service, us we a that has get allowed our contribute much faster. they really really that shut and been why why prioritize matters and and

machine our infrastructure. to some and at lot nearly we've We've learning a service, is, platform more two deep of Number and just of aspect learning the every better applying every lot been gotten a older problem. refactoring

every are teams we gotten shift on that and the that we discipline better approached We've deep and face, now that much a and a problem higher been and acquiring with learning focused first, within market of to has learning at bar hiring bringing pretty machine problem company. every domain technology

the mechanical ago most fairly three in years four years, did. that were we things We of

side. that experience, seeing that the that seeing the infrastructure health So, within well we're to product we're seeing side, the within revenue consumer from and our all with as way we're the

heart, folks really a have on of with of third the lot having care, we then are resilience the a But, and continue inspire people, is of lot others to around we strength as well. and a And people, join doing things. benefit the who to some amazing who lot of hire focused the right company

made our also is just Dantley company. not give us we're it clarity product, thinking do, on around we will but efforts, our design creating, feels, Davis, but to, level team how within hire amazing just a more leading experiences the lot which major design the providing design that the who that everything We that a

move certainly to more whole way much in result a benefit focused it. a and have from will but across-the-board that more greater together, us faster So, we agility, things allowed impact these much, a lot three in

John Blackledge

Thank you.

Krista Bessinger

And Thanks. please? question next

Operator

question from next Your Mark RBC. comes from Mahaney

is line open. Your

Mark Mahaney

are that really back, DAU unsatisfactory impressive, viral the talk Thanks. whatever come past, that's they've That to people -- improved would growth use experience, to those the they've has could heard Twitter from brand Twitter. extent was whether you users either an somehow which in who coming or had the through but about site new

in a the And ability? I people have who super there just the retired have on of Because service. used lot of probably of part high, from past that, and you guess as comment it the awareness could Twitter's are your

intuitive, more as talk -- more conversational, you those just into that tap source Thanks to about users, Your the make user product growth? a new as of a to ability lot.

Jack Dorsey

Hey for Mark, that. thanks

before, are we back past, have on them look new coming frequently of they who Twitter may than two DAU have when who the that would composition are people who how bucket, Twitter. new been think in people is at the about who and are to we So, the definitely to areas, in the people more that

funnel terms we the a been they a of for of people link, lot at come some at of to when who whether because Twitter, consistent service about we've phone, day, they on notification and time, to or the top the having the As Twitter. people a every something we've it went searched to look come talked brought them the of remarkably their for because app they somewhere else, come in the -- funnel,

job And to To the care and are a better is coming them help things as and less find of they events for that, better around who do who to about them frequently opportunity the help for, are the come that important we're take what to folks people looking topic service looking help surface us that and and to able we what new the find away. have the them frequently, more been for them; and they're the most, they're right faster.

we think well. areas but of So, opportunity where buckets as front some where been in both us also found real we success about having recently, definitely there's as both

Krista Bessinger

and Great, she And but list timeline of from switch makes the leverage take easy better and the the customization non-intuitive. account be thank the or from is creation changes next and adding between, the creating Jerry to Twitter feature, view it to we'll timeline you. list list question Will new and comes asks McNeil, he there still Twitter, soon? clunky to

Jack Dorsey

actually well. This question Thank bit speaks little as you a Mark's Jerry. to

a the on the a have powerful pretty deeply a app who very considering. what it's out of. service we're for And that and the number and have at coming with do of number the we quite looking active like today topics some about interesting These of trying list been service, or lot features time exactly are within value to have people thing is been primitives got to of We that back interest. are list

time and list, -- right a in list accessible those made finding People spend did following them recently we we timeline. was those putting lot that the we lists. it a of made from accounts simplest thing The

cryptocurrency do the create within the been your find own interesting hard you've of really topics created that. you -- if say did all of list and So, all in around work the it's to accounts the lists past, you that cryptocurrency, find to space,

switch you list timeline, you any to timeline, Now, top it's to. of home list, go between at also that can you that right the can go the right you the subscribe to can

in as next work much easier, list The adding to step and able impactful to accessible more set more giving it we of follow around is a it's this -- that, generally functionality extremely and We're to creation this people, topics interest of think events, in spirit of and the just and more be you doing not more of all allude much making over more that. accounts, will control being topics, but making interest. new

this We well. them huge an easiest and show within help accounts find you're think get to certainly experience but there's following best had opportunity and and experience, the the as of them interesting to is A on-boarding where someone on a is have probably we you relevant also well. lot those as within think Twitter way to who

a made, topic they that they a timeline these or with around any easier and have, and experience them and moves almost can that makes list to might give With rich interest people that very kind starter easily get this pack much follow so a instantaneously. of recent much, we've

and service. I'm and massive impact think is will lists I the about something a do can really it net we have this excited we're considering. what with events, and So, on topics positive that really

Krista Bessinger

Thanks, Jack.

question next please, operator? So,

Operator

Deutsche comes Bank. next Lloyd Your from from question Walmsley

line open. Your is

Lloyd Walmsley

in changes. of the a feedback shareholder Two just about getting the sense ad I are early Thanks. unit us what ad give first you talked Can and letter you of what's deprecating can, units some if new and how is. some

quickly, you with us product, any can it that think an just these be in new given the which they to do then update second map pretty scale do I need one, on get the it's can't And a what reason progress once performance may place? related, And as get give operationally, and you right. to you

Jack Dorsey

Lloyd, Hey the thanks for question.

work really focus. that We been thinking people the first, from right, success looking that they just of the has done, are drive deprecations, at feel behind that. are and the drive, If some can on things we here that step turn and about how on we back So, able MAP, then we've lot a portfolio work the you're related. we often to we'll we've of been like all focus of to

even particular, in-service we clear the we when see The on expense team. of real in about of mentioned we priorities, and deprecations, the When focus our from revenue prioritization, at other that. those, that are things, we're product benefit product on

enough and When or guide have make communicate the same we can, shut that on the that hopefully don't can other some you can but enough our to have over that there they do our be down priorities impact ad that, things. term in near decision direction and disruption that the people can When small ability formats big tough to long-term to them another, in use think focus to move near one advertisers, are we greatest will them the as term. they to benefit who

impact and announced These guidance enough relative second not big out, already. the break is product, that do again, provided one bit the to we -- we've delivered that quarters. them first but in that to they're a of they are, Carousel example the to little we've An sense what the make

of couple for in revenue but There or all in-service that two are of the priorities around, that talked about made we've big a others process product team. This still those well communicating. as decisions of the considered we've we're is

positioned to on who server new try great positioned quickly that the here. they things, on move work company, attract us once who the to make technology sure get it we're to move allow work to our to to to the latest is doing The people quickly, are first one want is and ad to

Mobile really the better, know been MAP, Promotion where can to can so format relevance, we they better clear for but stronger their -- the believe can in one we is has where which that objectives for them. we format that move us The them we deliver deliver Application deliver successful better faster a past, can and second one is ad we help help advertisers ROI

of with move quickly We're may work, it, a be in see and you from forward that still can we would at response there be it as impact nature. a where described, stage still see, related direct gradual middle that but it's as product, the you the point benefit you we're in ramp because the where we believe its

And get when and still we're working about so, we'll gradual make it yet, hard that talk happen. starts, we're more we to there nature there in not it but

Lloyd Walmsley

you. thank Great,

Krista Bessinger

please? nextquestion Thanks,

Operator

Your Brian next Morgan from question comes Stanley. from Nowak

line is open. Your

Brian Nowak

Thanks letter, mentioned you some wanted their little you're for home the better. ways my ask timeline, a for in people -- with to question. to taking of better about customize follow experimenting new I interest sort

what of little Maybe, changing and an seeing kind early of tangible you are perspective? engagement from what in examples us retention more a talk you're tests or to the Thanks.

Jack Dorsey

Yes.

I'll part to question years is ranking first ago first work, So, this relevance. by started time about three ago some the of started your Brian. when timeline the we We speak

model. moved pure a reverse So, from away chronological we

ranks chronological timeline past from received Over controls introduced we to and top reverse this well enable customers. timeline was the at very our by to year, shift the to a people of the quickly some

of people list list. they where timeline, The around, the experience recent a list, now right list more. most It is believe and can created or top an have could so they've do putting the home switch if us led subscribed to the we to between even quickly at their timeline also that

are controls event to add topics, in getting interest timelines, more to the per locations, to we more potentially really people sure everything much past, particular, timeline about that following to want to people in or per interest, relevance, within these relevant control for much, corresponds enduring per much following talked faster. make a even following topic, time that around as we and lot want we've this, a We giving some

focus will believe on interested follow timeline communities We this -- easily people that and where their deep an the go experience create that. focus in can very really and conversation they're

us that they most make can serve, with the what's working, the working, that so learn and what's based quickly thing we and love, informed that experiment is for we aspect, quickly important -- co-create decisions we what and some that that. agility not on we they we So we customers this can what can don't see can

So really within that improved people spend has we've that the is majority And and where their machinery the talked the past timeline really, practice year. company over of about, time. as the

Ned? excited Our focus excited more it make and continue, especially interest this our additionally on people and very experience dimension. well focused, been enabling making to relevant, is received the topic has event much there, very, that that focus and we're will we're everything more focused about something to that and year bring, along

Ned Segal

Brian. Hey

DAU the all tell Remember, them delivering second we're doing going Just we of and be is giving people, for a the impact best way just question out experience your we're to results. they're care to if come about service to if Twitter go part the they're going around they going are to the and things events, a good going about with the and every to find to described, that back Jack day, to to be and and engage they're part topics of the most, conversation. come because to

for these - calls that's talking benefit. So, that's why on about we'll DAU why your keep we

to feel of DAU benefit we pointing It's from point we is this can service. some out we worth the proud causal the growth, particularly Jack we're though, product things think about the quarter described of in work just that that the of like one as already that's

can -- when that we quarter. those we this we've improvements delivered the relationship between had and look we the at that at tests When we impact that run, DAU growth a look -- the see the direct -- improvements have we

Brian Nowak

Great, thanks.

Krista Bessinger

Thanks.

please? Next question

Operator

Bank Your America next Justin Lynch. question Merrill of from from Post comes

Your line is open.

Justin Post

helped on Great. really just on but but growth the think I if already or disclosed this, of the the that to wondering if those seeing lower funnel. really commented you churn you you're improving don't you're Apologize, metrics quarter? if top MAUs, more what's this users attracting

And response; a over can and the then next feel that about company? Thank really to for lot that happen advertisers time, yet you. love are how to we'd also, all a really just big like talked but of doesn't in Twitter, years, priority them direct the of is and the we hear engaging couple

Jack Dorsey

of We out who people consistency we find again. I'll the want When funnel, about this look Justin. what see talking in at in are did really terms to and what it the to because of earlier, of are they cover Thanks world, coming what's good the the go feel we some people top and day, we about. but service happening through every

opportunity to the to those they'll faster, looking is time help find for that what well. us, is that for they Twitter, next confidence as come so have they looking what find they're they're the Where people for

going and promotion we product. with direct as the both really And into both so, who there response, success the doing work never come opportunity as Twitter, is numbers active we mobile start people we're about When these well. regards converting delivering, for less frequently we're daily still and means been who've it's see before that to that we look ahead to for in think that in application that from Twitter people usage still

for give advertising, to and us But, we interest as mobile applications mentioned that over time. we there focus, a when we better such ways I'd impact be of the that that get that, deliver should to talked continue promotions we application find response move as to things more product earlier even advertisers about other people to from in earlier. direct do may the better path near-term

what's help formats, move our We deliver. new and and ad with to we more want the a us down to funnel products we help for think launch services, there's we with opportunity them as to help lot advertisers happening, them further connect want

Justin Post

you. Thank

Krista Bessinger

Thanks.

please? Next question

Operator

from Your next question comes from Mark May Citi.

Your open. line is

Mark May

Thank you.

point the seeing? if you're some there terms terms metrics share In video the wondering us of live just that that product or engagement the in traction of might you to with could early of kind other of metrics

number infinite sessions and of deeper is of of just influencers kind term, dive to here, to large participants, just And hosts regularly vision little bit are can kind of curious what point expand there. a looking a where live curious, a longer other big an with brands the you

drivers revenue, there the international side then secondly, of business? of result in the Thanks. that terms And international see growth improved do could you in any in

Ned Segal

a video. So, question Mark, of live the things part first around your couple of

live it couple think could conversation. a different live can be a using using start the somebody way of video a So, it -- service, in what or participate be as things; to we of video

video part which drop so more You'd feature people of three a many things recently to but well. video live can as a we've conversation, live mean of part allows a to Twitter mentioned be out, rolled and the for other into up that video, live

last real-time to It around debates opportunity on highlights, it's Women's Democratic every much the for us whether or can improve on the through near help or watching continue conversation the mean from month video. to the Olympics, so World the live so Cup seeing goal there's the service, service

people drives terms about think of how conversation we the to think to how daily for we people benefit formats, it improve and to about of part making relevance, easier service. conversation, continue When and instead of be we think people We type tend a drive just active format about particular don't we through through service can numbers, to way the grow best the to in easier the a the it as that usage. through the can of

should owners, one seeing around live one about the can conversational, their allow than opportunities League differently about are video, them about where to the for are You'd asked connect time people to talking ISO-CAM just mention specific passionate more the content it's well. because to Olympics, cool Baseball, real of in Twitter earlier, Major Twitter the Jack about leverage way, thing was Olympics them it's people Twitter service things because who for about bring to the the these as can the NBA's -- I topic about they with and Hitter other from are engagement obviously the event how to where Twitter they leagues and drive by or

about, internationally allowed same XX% feel United past the doing work that of lot lot DAU in we're the as and outside the driven has United a it's we talked real that of in us A international, Jack grow this States. at quarter. product to look work benefit well has States of that we When the

so the different those who of over a to world. people, the countries We benefit in people are we're will opportunity not in Remember, same work it's of big that still see and continue for focus outside use outside be of XX% States. that the lots us, United doing US the area the Twitter but It's of ought things countries. to all that

Mark May

Thanks, Ned.

Krista Bessinger

Thanks.

please? question Next

Operator

Goldman Your next from Sachs. question comes Heath from Terry

open. is line Your

Heath Terry

timelines, of about development out, of T its does how just able the version people's are for might and for you follow rolling app as and been app Kind to it Jack, you're available out do sort you that it you it widely get the way interest. Little the few into having users? to of Any you and success topics as thanks. of path extent that or to want the to idea that make there. what that's the a curious, work that of available see to sense a feature that, events be cause debuted now gradually further sort with being of Great, an down months you've will more talking

just then I one. hopefully guess And quick Ned, one

call As in particular and anything should stack in that, points on? in anything line of improvements this in behind basis focused we you acceleration particularly ad and base, tech that that advertising advertising US XXX is be there at in as the whether business particular the the would growth out quarter, we being it's look in your the

Jack Dorsey

Thank Heath. you

interest year within past an the things like the more over have timeline. been introducing we like So, topic

also might particular people of you URLs We're followgram of but So, some not in discovery top more events. might right them, our and putting around events around see terms topics the of interest and and be when at particular sharing that noticing sharing are your timeline. the opinions We're of within that [ph]. manifests necessarily

the timeline, follows provides way faster utilize shift a it. to finding to some The this the has of we is of and recently do interest. within with a to - a source see bunch for list things, top been bigger these of experiment way for if contain can us biggest experiment some value well So, good that we are concepts and events people as a the within much as because us us the at do controls timeline believe putting list and

roadmap really out. and my what the this, team thinking And a is we this about favorite is rolling, with, thinking growing of one a product have how about experimenting very reviews and and we're within exciting -- this over week seeing is the

in people, to to agility a our to can of But, can app, want roll-out. more very We continue process, features from the this, and that lot so see continue we we introduce should and we're into like build faster, that these quickly. to means improving learn much we

small and app hits production full This well, very just this and that the on amazing Little we beta with to as app. a ground testing section T play is we shift app so the This prototype audience. have a within with, is can a rapidly,

it deeper us much broader test, to changes. So, allows much and

We much can we're to the this, so production, will quicker, participate is features but faster. number with goal we can who learn testing always look get to that that ultimate people into of expand the the

conversations pretty in playing it ready believe production. that much good and a do of lot elements what think we of way, and with, think we for within a We experience. replies clear organizes it And we are have a conversation, we're

and we all with agility and learnings But, the matter we service get to improving increased it. our a also go. faster, best the that with us the from we're where the people doing importantly should learn opinions, Little just of we're production that we've It's the service in making sure of of allows feedback that on that pairing some much as serving the most have into T work pairing app, taking built and parts and the and

Ned Segal

your performance second around ad the revenue of and this quarter. question the the part Heath, Hey

highlights was XX% connecting launching the to products in as there, our services When we you noticed, States with probably One really and advertisers. the we of States. continue outside at what's look well, revenue messages strong the like and happening, growth the performance resonate that, ad United United of new and the feel

formats helping over with the a advertisers, our continue and and service, team and the customers' and an revenue those on are conversations. Matt and great team doing Bruce delivering we them world benefit product designing ROI are get connecting ad real see awesome job from strong the and to all the

growing it see ad rates, in manifest itself see against engagements growing you improving XX% through it a You itself in manifest click audience.

or it, that that It's may includes this data quarter. and more than revenue at our that. expected good -- which one notice line, pointing feel as worth you data you than and So MoPub, business grew solutions really when out, we look the unpack about you as well less enterprise have the declined it and other might

the at more won timing over growth, that business, solutions we year. enterprise when X% impacted number anomaly, of this business the on look on that timing around of year you of that it at of a got consider it course than relative would, the and that, looked new We basis, data probably more full things if year-over-year quarterly and the last the an year, to

basis, We've executed meant year past. Heath. that, in result strategy really over we've full in rates than future years, business in lower but few and the how good at last Thanks we as on of talked the more X% to last anomaly. so is look the that of it few that our quarters in on about a question at I DES grow as about how feel an We a the for has so the likely

Krista Bessinger

last think, time Thank operator, I one just you. And have we question, for please?

Operator

Okay.

final will from from question today our Ross So come Barclays. Sandler

Your line is open.

Ross Sandler

of here, big is for today? Ned. on total maybe Twitter and Hey, me consumption one so Jack, guys. for list a topic one the for how as in, Thanks quick list squeezing Jack percent one

seen list myself, -- have ad an I as And in list. I've never user

point, you think that at about So, potentially in TweetDeck? ads opportunity, an some the in do is and list opportunity how

comp was year huge flesh Japan a decelerated that is decel a so the is on in a had you Japan. -- any ago, you or on going just know that Can that through a Japan that flowing Ned, from what's bit little just bit, mentioned, ads? out licensing little then Thank And you. I of

Jack Dorsey

of work these timeline a people well. consumption instrumental our They not complement this, the and their who very their really percent the we're organize experience that the experience. lot sublists who list customers around have understand breaking Twitter, done are but Ross, So their for on in out

and strike list. and of Twitter, So, is, customers just figure more of At recognize the functionality with what seen accessible do the time, these primitive aspect power we've every out the the feature to over major everyone. control amount of [ph] to as and we're trying that here increasing these making service nearly when who same

that we an questions gets your So, list topic us, do it home things easy of around provide or very whole a experience a well. switch for a can a people truly there's think interest, within to some to between to construct and means the and number what control we as follow that more answer lot timeline

out we these of learn to with in want - start products and around better We as have but tweets, think timelines, well. list and as that we revenue list if it's more from more an organized as there we events the streams it, topics. is And we'll in as as as as figure broadly the the experience case, experience past,

Ned Segal

across So relevance and continue constrained year, to more show feel on to when constrained, in geographies the Ross, that people their to opportunity times objectives off than When areas Twitter, help better to on supply still look the great across see and service. demand to realize things drive surface Japan. on and we ads the and we move of we of just a tie look couple advertisers

on more of So, you; more to back growth revenue out as by million, tough it's currency, with couple by advertisers the of comps. on begin in in refer $XXX Jack's was major had can little in in in Japan, we've step if than back year-over-year our XXXX breakthroughs to resonate million accomplished but couple X% comments with quarter. followed we agency market, impacted XXXX, QX things XX% little impacted QX XXXX, of $XX than ad a about Japan what I'll think point a just it's to lists is one, the Japan. in formats QX A really concentrated little a last you this and you Japan, by years was a of X%, of over imagine, when when to

in rates then, are to campaigns people running, the are And that impacted topics Twitter. country, at events that people ad you quarter the if given are given people the the bringing embracing, are look any any by that formats growth and

more stuff so, we than quarter. Japan And have liked in impacted second that might the

there, the the ahead hosted hard about the look in the done we that we're to work that all think broader Japan agencies think potential about get and doing the we've being and the other about we we to good next more and importantly line Japan ads When you even on in time when feel so advertisers, the Olympics work we most about we we'll licensing over important that from closer and data and MAP, mentioned, think the to work from really but, hard, both opportunity. year,

Jack Dorsey

right. All

that, with we're for up. think, wrap everyone. to us joining I Thanks going

to this next performance with market report in before quarter. our We the October appreciate on We your earnings and pleased you we quarter when speaking XX, are forward look we with opened. Twitter, interest

wrap, outside because building any better you us. garbage it sounds in here our San heard of out like behind the noise if taking We Francisco, they're the

Twitter. on all you see will We

Operator

call. conclude will today’s This everyone. Thanks conference

now You may disconnect.

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