Based on Twitter's financial standing, which major factors shouldthe companyconsider when evaluatingpotential futureinvestment opportunities andprojects?(See attached spreadsheet with financial data from the last 3 fiscal years.

Twitter Ratios Analysis Vs. Industry Average (Sources from 2016, 2015, 2014 & 2013 Annual Reports) https://investor.twitterinc.com/annuals-proxies.cfm https://www.investing.com/equities/twitter-inc-ratios Industry Average Twitter 2016 Financial Strength: Current Ratio 5.76 7.9658 Total Debt/Equity Ratio 65.92% 49.20% Long Term Debt/Equity Ratio 58.07% 36.51% Short Term Debt/Equity Ratio 0.1268 Management Effectiveness Return on Equity Asset Turnover 24.68% 11.56% Liquidity Rations Days Sales Outstanding Receivable Turnover Intangible % of Book Value Valuation Ratios Basic Earning Power Price Earning (P/E) Ratio Price Cash Flow Ratio Profitability Ratios Gross Margin Operating Margin Profit Margin Capital Strucuture Ratios Invested Capital LT-Debt as % of Invested Capital St-Debt as % of Invested Capital Lt-Debt as % of Total Debt St-Debt as % of Total Debt Total Liabilities % of Total Assets Working Capital % of Price Fiscal Year end Stock adjusted price Shares outstanding -7.97% 0.3800 93.8826 3.9239 0.0207 42.16 33.91 0.0107 -0.0399 -215.0166 62.83% 21.23% 15.68% -14.52% 30.16% -18.06% 59% 5,297,746 31.74% 11.02% 74.22% 25.78% 32.97% 30.29% $16.30 721,572 EBIT 73,626 TWITTER, INC. CONSOLIDATED STATEMENT OF OPERATIONS (In thousands, except per share data) Revenue Cost and expenses Cost of revenue Research and development Sales and marketing Generral and adminstrative Total costs and expenses Loss from operations Interest expenses Other income (expense), net Loss from income taxes Provision (benefit) for income taxes Net loss Net loss per share attributable to common stockholders: Basic Diluted Weighted-average shares used to compute net loss Per share attributable to common stockholders: Basic Diluted Year ended December 31, 2016 2,529,619 932,240 713,482 957,829 293,276 2,896,827 (367,208) (99,968) 26,342 (440,834) 16,039 (456,873) (0.65) (0.65) 702,135 702,135 ge Twitter 2015 Twitter 2014 8.6590 47.49% 35.91% 0.1159 10.8073 53.96% 43.10% 0.1086 -11.93% 0.3689 -15.93% 0.2513 105.1037 4.1963 0.0323 108.8635 4.2146 0.0290 0.0129 -0.0341 -77.1450 0.0071 -0.0240 -62.3347 -20.29% 17.27% -23.49% -38.41% 5.83% -41.18% 5,024,929 31.21% 10.07% 75.61% 24.39% 32.20% 28.86% 3,678,564 42.49% 10.71% 79.87% 20.13% 35.05% 28.76% $23.14 694,132 $35.87 642,385 83,269 39,485 TWITTER, INC. ONS CONSOLIDATED BALANCE SHEETS (In thousands, except per Par Value Year ended December 31, 2015 2014 2,218,032 1,403,002 729,256 806,648 871,491 260,673 2,668,068 446,309 691,543 614,110 189,906 1,941,868 (450,036) (98,178) 14,909 (533,305) (12,274) (521,031) (538,866) (35,918) (3,567) (578,351) (531) (577,820) (0.79) (0.79) (0.86) (0.96) 662,424 662,424 604,990 604,990 Assets Current assets: Cash and cash equivalents Short-term investment Accounts receivable, net of allowance for doubtful account of $7,216 and $8,121 as of 12/31/16 & 12/31/15. respective Prepaid expenses and other current assets Total current assets Property and equipment, net Intangible assets, net Goodwill Other assets Total assets Liabilities and stockholders' equity Current liabilities: Accounts payable Accrued and other current liabilities Capital leases, short-term Total current liabilities Convertible notes Capital leases, long-term Deferred and other long-term tax liabilities, net Other long-term liabilities Total liabilities Stockholders' equity: Preferred stock, $0.000005 par value-- 200,000 shares authorized; none issued and outstanding Common stock, $0.000005 par value-- 5,000,000 shares authorized; 694,132 and 642,385 shares issued and outstanding as of December 31, 2015 and 2014, respectively Additional paid-in capital Accumulated other comprehensive loss Accumulated deficit Total stockholders' equity Total liabilities and stockholders' equity TWITTER, INC. LIDATED BALANCE SHEETS sands, except per Par Value /16 & 12/31/15. respectively C 2016 December 31, 2015 2014 988,598 2,785,981 911,471 2,583,877 1,510,724 2,111,154 650,650 226,967 4,652,196 783,901 95,334 1,185,315 153,619 6,870,365 638,694 247,750 4,381,792 735,299 141,015 1,122,728 61,605 6,442,439 418,454 215,521 4,255,853 557,019 105,011 622,570 42,629 5,583,082 122,236 380,937 80,848 584,021 1,538,967 66,837 7,556 68,049 2,265,430 134,081 283,792 88,166 506,039 1,455,095 59,695 2,978 50,585 2,074,392 53,241 228,233 112,320 393,794 1,376,020 118,950 24,706 43,209 1,956,679 2013 247,328 5,583,082 Cash flows from operating activities Net loss Adjustments to reconcile net loss to net Depreciation and amortization Stock-based compensation expense Amortization of discount on convertib Changes in bad debt provision Deferred income tax Non-cash restructuring Other adjustments Changes in assets and liabilities, net o assumed from acquisitions: Accounts receivable Prepaid expenses and other assets Accounts payable Accrued and other liabilities Net cash provided by operating Cash flows from investing activities Purchases of property and equipment Purchases of market securities Proceeds from maturities of marketable Proceeds from sales of marketable secu Change in restricted cash Purchase of investments in privately-hel Business combinations, net of cash acqu Other investing activities Net cash used investing activities authorized; none issued s authorized; 694,132 and r 31, 2015 and 2014, 4 3 3 7,224,534 6,507,087 5,208,870 (69,253) (45,566) (10,024) (2,550,350) (2,093,477) (1,572,446) 4,604,935 4,368,047 3,626,403 Cash flows from financing activites Proceeds from issuance of convertible n Convertible notes initial issuance discou Purchases of convertible note hedges Proceeds from issuance of warrants Taxes paid related to net share settleme Repayments of capital lease obliagation Proceeds from exercise of stock options 6,870,365 6,442,439 5,583,082 Proceeds from issuance of common sto Other financial activities Net cash provided by (used in) finan Net increase (decrease) in cash cash equ Foreign exchange effect on cash and cahs Cash and cash equivalents at beginning o Cash and cash equivalents at end of perio Supplemental cash flow data Interest paid in cash Taxes paid in cash Supplemental disclosures of non-cash in Common stock issued in conneciton wit Equipment purchase under capital lease Changes in accured property and equipm TWITTER, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Year Ended December 31, 2016 2015 2014 s from operating activities ents to reconcile net loss to net cash provided by operating activities: ciation and amortization based compensation expense zation of discount on convertible notes es in bad debt provision ed income tax sh restructuring adjustments es in assets and liabilities, net of assets acquired and liabilities ed from acquisitions: unts receivable aid expenses and other assets unts payable ued and other liabilities Net cash provided by operating activities s from investing activities s of property and equipment s of market securities from maturities of marketable securities from sales of marketable securities n restricted cash of investments in privately-held companies combinations, net of cash acquired esting activities cash used investing activities s from financing activites from issuance of convertible notes ble notes initial issuance discount s of convertible note hedges from issuance of warrants d related to net share settlement of equity awards nts of capital lease obliagations from exercise of stock options (456,873) (521,031) (577,820) 402,172 615,233 74,660 3,958 (4,775) 25,934 20,150 312,823 682,118 69,185 5,765 (28,125) (3,194) 1,438 208,165 631,597 18,823 4,632 (9,609) (22,969) 7,101 (7,112) 105,576 763,055 (216,585) (50,170) 76,355 54,487 383,066 (177,583) (165,395) 18,059 122,944 81,796 7,983 (218,657) (347,280) (201,630) (2,908,611) (3,683,488) (2,937,033) 2,518,631 2,821,745 2,029,518 183,154 383,413 188,092 (4,760) (3,549) (11,042) (81,502) (10,500) (85,082) (51,644) (163,477) (1,181) (11,118) (1,700) (598,008) (902,421) (1,097,272) (15,598) (100,558) 7,540 1,889,000 (28,810) (407,169) 289,272 (11,101) (17,053) (117,535) (103,135) 17,361 28,658 from issuance of common stock under employee stock purchase plan ancial activities cash provided by (used in) financial activities se (decrease) in cash cash equivalents change effect on cash and cahs equivalents cash equivalents at beginning of period cash equivalents at end of period ntal cash flow data paid in cash ntal disclosures of non-cash investing and financing activites stock issued in conneciton with acquisitons nt purchase under capital leases in accured property and equipment purchase 24,431 39,295 42,402 210 8,982 (1,443) (83,975) (62,998) 1,691,722 81,072 (582,353) 676,246 (3,945) (16,900) (6,532) 911,471 1,510,724 841,010 988,598 911,471 1,510,724 12,953 14,532 15,985 8,229 10,000 14,895 1,341 100,281 5,738 516,538 31,215 3,902 147,958 140,685 6,562