In view of the pending acquisition, Twitter withdrew all previously provided targets and approaches.
Twitter said daily active users rose to 229 million in the first quarter ended March 31 from 199 million a year ago.
- Reuters
- Last Update:April 28, 2022, 18:10 IST
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Twitter Inc., which has agreed to a $44 billion sale to Elon Musk, said Thursday that it added more users for the first quarter than Wall Street did, even slightly above revenue estimates. came less. The company also withdrew all the targets and vision provided earlier in view of the pending acquisitions.
The company said daily active users increased to 229 million in the first quarter ended March 31, up from 199 million a year ago. Analysts were expecting an average of 226.8 million daily active users.
Read also: Will Elon Musk-owned Twitter run by EU rules on content moderation?
Twitter, which is struggling to overcome a stagnation in its user base, is working to ramp up its targeting and measurement of ads and testing e-commerce ad formats, while aggressively pursuing initiatives like video ads. is sending.
While Musk hasn’t clarified how he plans to “fix and improve” Twitter, he has talked about the subscription-based business model and action on bot accounts.
It reported revenue of $1.2 billion, compared to analysts’ average estimate of $1.23 billion, according to Refinitiv’s IBES data. Its net income rose to $513.3 million, or 61 cents per share, from $68 million a year ago, 8 cents per share.
Shares of the San Francisco-based company gained about 0.7% in trading before the bell.
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