Twitter Inc. (NYSE: TWTR) is scheduled to release its third-quarter financial results before the markets open on Thursday. The consensus estimates call for $0.20 in earnings per share (EPS) and $873.91 million in revenue. The same period of last year reportedly had $0.21 in EPS and $758.11 million in revenue.
The company previously issued guidance for the third quarter. Twitter expected to see total revenue in the range of $815 million to $875 million, with operating income between $45 million and $80 million.
In the second quarter, revenue increased 20% year over year, or 20% on a constant currency basis. International revenue totaled $386 million, an increase of 12%, or 16% on a constant currency basis.
Advertising revenue totaled $727 million, an increase of 21% year over year, or 23% on a constant currency basis. Total ad engagements increased 20% year over year, and cost per engagement was approximately flat in this time as well.
Excluding Wednesday’s move, Twitter had outperformed the broad markets, with its stock up about 35% year to date. The stock performed more or less the same in the past 52 weeks.
A few analysts weighed in on Twitter ahead of the results:
- BMO has a Market Perform rating with a $45 price target.
- Wedbush has a Neutral rating and a $42 price target.
- MKM Partners has a Neutral rating with a $44 price target.
- Morgan Stanley rates it as Equal Weight with a $34 target.
- Pivotal Research has a Buy rating with a $47 price target.
- Citigroup’s Hold rating comes with a $45 target price.
- Cascend Securities has a Buy rating and a $55 price target.
Shares of Twitter traded down over 1.5% at $38.19 on Wednesday, in a 52-week range of $26.26 to $45.86. The consensus price target is $42.07.
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