Twitter reports increased first-quarter revenue, reveals data error (via AdamMorganMc)
Twitter’s board accepted Elon Musk’s $44 billion takeover on Monday, so no post-earnings conference call is planned.Twitter reported an increase in first-quarter revenue on Thursday, three days after accepting Elon Musk’s bid to take the company private., which showed first-quarter revenue up 16% to $1.2 billion. Net income for the quarter was $513 million, boosted by the sale of its MoPub mobile ad platform.
Twitter's earnings report showed that daily active users rose 16% to 229 million during the first quarter, but the social media platform revealed it miscalculated active user figures between 2019 and 2021. The mistake overstated user numbers by between 1% and 2% over the period. Speaking at a recent TED talk, Musk addressed his concern with bots, noting that the spam bots negatively impact the user experience on Twitter. “They make the product much worse. If I had a dogecoin for every crypto scam I saw, I would have a hundred billion dogecoin."
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