Pending completion of the Elon Musk acquisition, Twitter hit 229 million users at the end of the first quarter, with earnings and earnings per share topping Wall Street estimates.
Revenue increased 16% year-over-year to $ 1.2 billion. The ad totaled $ 1.1 billion. Earnings per share were 61 cents, down from 8 cents a year ago.
The company announced the results ahead of the trading day, but will not call a conference call due to the upcoming acquisition of the company. Additionally, regarding Musk’s arrival on the scene, Twitter said in its earnings release that “there will be no forecasts and they will explain all previously stated goals and prospects.”
Musk’s $ 44 billion deal is expected to be completed by the end of this year. If it continues, Twitter will become a private company. Musk says privatization is a key to improving Twitter.
In addition to financial statements, the company also released its “Monetizable Daily Active Users” or MDAU strengthening statement from 2019 to 2021. “In March 2019, we launched a feature that allows people to link multiple separate accounts to easily switch between one to the other accounts, ”the company explains.“ At that moment a mistake was made such that actions taken via the master account caused all related accounts to be counted as mDAUs. This led to an excess of mDAUs from Q1’19 to Q4’21.
The adjusted figure for global consumers in the fourth quarter of 2021 was 216.6 million, a difference of 1.9 million from previously reported.
Source: Deadline
Elizabeth Cabrera is an author and journalist who writes for The Fashion Vibes. With a talent for staying up-to-date on the latest news and trends, Elizabeth is dedicated to delivering informative and engaging articles that keep readers informed on the latest developments.
