Twitter just reported earnings for the first quarter of 2022, in what could be one of its last reports as a public company after its board agreed to sell to Elon Musk for $44 billion.
Here are the key numbers:
- Earnings per share:61 cents, not comparable to estimates
- Revenue:$1.2 billion vs $1.23 billion expected, according to Refinitiv
- Monetizable Daily Active Users (mDAUs):229 million vs 226.9 million expected, according to StreetAccoun
Twitter stock climbed nearly 1% after reporting quarterly results.
The company said the 229 million mDAUs it reported in the quarter represents a 15.9% increase from the same period last year.
It also corrected previously reported mDAU numbers that overcounted some accounts from Q1 2019 through Q4 2021. Twitter said the error was made after launching a feature allowing users to easily switch between their separate accounts. As a result, the company said that during that period, all linked accounts were counted as mDAU when an action was made by the primary account.
Though it could still take months for Musk's deal to buy Twitter to close, the company canceled its usual earnings conference call in light of Monday's acquisition news.
Musk has signaled he'd like to use his ownership to make Twitter a more open platform, both through transparency in its algorithms and processes and in being more tolerant of different views.
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