TWITTER, INC (TWTR) saw its loss narrow to $61.56 million, or $0.09 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $79.73 million, or $0.12 a share. On the other hand, adjusted net income for the quarter stood at $82.40 million, or $0.11 a share compared with $102.72 million or $0.15 a share, a year ago. Revenue during the quarter dropped 7.78 percent to $548.25 million from $594.52 million in the previous year period. Gross margin for the quarter contracted 682 basis points over the previous year period to 59.81 percent. Operating margin for the quarter stood at negative 7.35 percent as compared to a negative 9.94 percent for the previous year period.
Operating loss for the quarter was $40.28 million, compared with an operating loss of $59.12 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $169.94 million compared with $180.47 million in the prior year period. At the same time, adjusted EBITDA margin improved 64 basis points in the quarter to 31 percent from 30.36 percent in the last year period.
Operating cash flow improvesTwitter, Inc has generated cash of $203.45 million from operating activities during the quarter, up 25 percent or $40.68 million, when compared with the last year period. Cash flow from investing activities was $19.02 million for the quarter as against cash outgo of $28.42 million in the last year period.
The company has spent $23.65 million cash to carry out financing activities during the quarter as against cash outgo of $24.08 million in the last year period.
Cash and cash equivalents stood at $1,191.57 million as on Mar. 31, 2017, up 15.95 percent or $163.90 million from $1,027.66 million on Mar. 31, 2016.
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