Twitter sees Q4 MAUs down mid-single-digit millions on sequential basis
Twitter says: "We continue to expect full year adjusted EBITDA margin expansion in 2018 due to the significant margin expansion we've delivered year to date. As we continue to grow our headcount toward our year-end target of 10-15% growth, we expect our operating expense base to continue to increase on an absolute basis in Q4. We added more than 240 people to our team in Q3, and expect to achieve the high end of our headcount growth target by year-end. We made meaningful progress improving the health of the public conversation on Twitter. Sig. progress in sign-up detection + identifying/challenging potentially automated, spammy/malicious accts. In Q3, we saw 20% q/q decrease in successful sign-ups w/ the intro. of new techniques + believe the majority of improvement is due to recent health efforts. In Q3, we made progress preventing spammy/suspicious new acct. creation, requiring new accts. to confirm an email address/phone # when they sign up to TWTR + we improved detection + removal of previously banned accts. who attempt to evade suspension by creating new accts... Looking ahead, we expect to see a sequential decline in MAU in Q4 given our ongoing health work, decisions not to renew or move to paid SMS carrier relationships in certain markets, and our decision to allocate resources towards GDPR and health. Based on our current level of visibility, we expect the decline to be mid-single-digit millions of MAU. As a reminder, DAU growth continues to be the best measure of our success in driving the use of Twitter as a daily utility. Outlook for Q4: adj EBITDA to be between $320M and $340M, adj EBITDA margin to be between 39% and 40%; capital expenditures to be between $60M and $85M; SBC expense to be in the range of $85M and $90M."