Social media giant Twitter said revenue jumped 16 percent to $1.2 billion in the first quarter of 2022, the social media company’s first update to investors since Tesla and SpaceX CEO Elon Musk , reached an agreement. The company has a formal agreement to acquire the company for approximately $44 billion. Buy offer.
On Thursday, Twitter also reported quarterly ad revenue of 23% to $1.1 billion. The company’s key subscriber metric, monetizable daily active users, reached 229 million in the quarter, up 16% from a year earlier. This exceeded the StreetAccount estimate of 226.9 million mDAU.
Twitter reached 217 million daily active users at the end of its fourth quarter revenue and had already reached 211 million DAUs in the third quarter of 2021. Net revenue: $513 million – Includes profit before tax $970 million From the sale of MoPub US$ 1.05 billion And income tax income – compared to prior year net income US$ 68 million.
The quarterly results shed little light on how Musk might manage Twitter. In an upcoming acquisition, the company said it would stop offering cautious guidance and “explain all previously stated goals and perspectives.”
The Tesla mogul revealed his initial 9.1% stake on Twitter in early April, followed by an official offer by the company on April 21. After Musk revealed the primary funding for the deal, Twitter began direct negotiations, which eventually led to the final deal.
Twitter, which has a lot to say, says the takeover bid, which may still be collapsing, will end this year, pending approval from shareholders and regulators. In the wake of the sale, which will make Twitter a private company, the social media company decided not to hold a follow-up call with analysts to discuss its results on Thursday.
Source: Hollywood Reporter
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