Twitter reports increase in users for latest quarter

Twitter reported an increase in users and revenue for the first three months of the year in a quarterly report released Thursday.

The report may be Twitter’s last as a public company after the board agreed to sell Twitter to Elon Musk for $44 billion earlier this week. 

Average daily monetizable active usage was 229 million in the first quarter of the year, up 15.9 percent compared to the same period last year, according to the report. 

Revenue for the quarter totaled $1.2 billion, up 16 percent compared to the same period last year. 

Twitter said it would be withdrawing “all previously provided goals and outlook” and not provide forward looking guidance given the pending acquisition by Musk. 

Musk has suggested a number of changes to the platform if the deal is finalized, including pushing for what he’s deemed a more “free speech” friendly platform with less content moderation. 

Tech advocacy groups and some Democrats have expressed concerns about any content moderation changes, but the suggestion is being embraced by Republicans who have blasted the platform for placing bans on GOP officials including former President Trump. 

In the report, Twitter also corrected an error that overstated the number of daily active users in previous reports between 2019 and 2021. The error occurred after Twitter launched a feature in March 2019 that allowed users to switch between accounts. 

For the most recent previous report, the fourth quarter of last year, the number of daily active users was 214.7 million, down from the 216.6 million Twitter reported at the time. 

[Source]
Author: Rebecca Klar