Can Twitter Outperform Expectations In Q4?

Twitter's management had guided revenue growth to be around 85% in Q4, which represented deceleration against 124% and 114% levels seen during the prior two quarters. We believe the company should be able to easily beat this guidance due to strong demand for advertising during the holiday quarter. Additionally, active user base growth and engagement levels could well have seen some uptick in sequential terms in the fourth quarter, in our view.