Baird analyst Colin Sebastian noted that in addition to its restructuring announcement this morning, Twitter also raised its Q3 guidance for revenue and EBITDA to be at or above the high end of its prior forecast ranges. Management also said that they expect to reinvest cost savings in the company's most important growth initiatives, such as the recently launched Moments tab, which Sebastian believes offers a compelling use case for mainstream users. While the guidance and Moments tab are positive, Sebastian said he remains cautious longer term given constraints to user growth and lingering high expectations for Twitter. The analyst keeps a Neutral rating on Twitter shares.