Musk would have been appointed to the Twitter board on Saturday, but the richest man in the world told the company that day that he would not actually take a seat on the board.
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Twitter has just reported earnings for the first quarter of 2022, in what may be one of the latest reports as an open company after its board agreed to sell Ilona Mask for $ 44 billion.
Here are the key figures:
- Earnings per share: 61 cents, not compared to estimates
- Income: According to Refinitiv, $ 1.2 billion versus the expected $ 1.23 billion
- Monetized Daily Active Users (mDAU): 229 million versus the expected 226.9 million, according to StreetAccount
Twitter shares rose about 1% during premarketing trading.
According to Refinitiv, Twitter missed analysts ’revenue estimates, reporting 1.2 billion versus the 1.23 billion expected by analysts. It reported earnings of 61 cents per share, which is not comparable to estimates because it includes earnings from the sale of MoPub.
The company said the 229 million mDAU it reported in the quarter was an increase of 15.9% over the same period last year. In the US, mDAUs rose 6.4% year-on-year to 39.6 million. International mDAUs amounted to 189.4 million, up 18.1% from last year.
It also corrected previously reported mDAU figures that exceeded some accounts from the first quarter of 2019 to the fourth quarter of 2021. Twitter said the mistake was made after launching a feature that allows users to easily switch between individual accounts. As a result, the company stated that during this period, all related accounts were considered as mDAU when actions were taken by the primary account.
Before the deal was officially announced on Monday, some analysts suggested that Twitter might want to close the deal before announcing such weak profits, expecting disappointments in the quarter.
Last week, Snap reported that its revenue was affected by macroeconomic trends, which amplify advertisers who may also affect Twitter.
Although it may take several months before the Mask Twitter purchase deal closes, the company has canceled its usual earnings conference in light of news of the acquisition on Monday. He expects the deal to be concluded this year.
Twitter has also said it will not give forward-looking instructions and removes the previous goals and prospects it has given.
Musk said he would like to use his property to make Twitter a more open platform, both through transparency of algorithms and processes and through greater tolerance for different views.
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Revenue Twitter (TWTR) in the first quarter of 2022
Source link Revenue Twitter (TWTR) in the first quarter of 2022