Report
Ali Mogharabi
EUR 101.80 For Business Accounts Only

Twitter 2Q Results Beat Expectations; Monthly User Growth in Question Again; Maintaining $17 FVE

Twitter reported better-than-expected second quarter 2017 results. Lack of growth in monthly active users disappointed the Street; albeit it was in line with our internal assumption as we had taken seasonality into account. Continuing growth in user engagement was encouraging. Twitter also showed its ability to monetize the intangible asset, which is user behavior data that it compiles. However, we continue to view Twitter as a no-moat company as lack of stronger user growth can minimize the ben...
Underlying
Twitter Inc.

Twitter provides products and services for people, organizations, advertisers, developers and platform and data partners. The company's product, Twitter, is a global platform for public self-expression and conversation in real time. The company's mobile application, Periscope, lets anyone broadcast and watch video live with others. The company's products and services for advertisers include Promoted Products such as Promoted Tweets, Promoted Accounts, and Promoted Trends. The company's products for developers and data partners provide tools and public application programming interfaces to build applications and other products that utilize Twitter data and syndicate and distribute Twitter content across their properties.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Ali Mogharabi

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