Twitter revenue climbs to $1.2B, daily users at 229M after Elon Musk takeover


Photo source: P Photo / Jade Jacobson

On Monday, April 25, 2022 a sign was painted outside the Twitter headquarters in San Francisco.

Twitter Earnings News: Twitter has made আয় 513 million a quarter since agreeing to sell to billionaire Elon Musk.

The social media company said on Thursday that revenue for the three months to March rose 16% to $ 1.2 billion compared to the same period last year.

Twitter, based in San Francisco, reported an average of 229 million daily active users this quarter, about 14 million more than the revised 214.7 million daily users in the previous quarter.

Also read: After taking over Twitter, Elon Musk says he will buy Coca-Cola ‘to bring back cocaine’

Twitter has canceled a conference call with executives and industry analysts that usually accompanies the results, so there will be some more insights into the company’s current financial situation.

“In light of the pending acquisition of Elon Musk’s Twitter, we will not provide any advance guidance and are withdrawing all previously set goals and visions,” the company said.

Musk’s $ 44 billion deal to buy Twitter was announced earlier this week and is expected to close later this year.

Read also: Elon Musk now targets Twitter chief of Indian descent to censor stories about Biden’s son

Mask’s Twitter acquisition is expected to close sometime this year. But before the deal is finalized, regulators will have to weigh in on the shareholders as well as the United States and the countries where Twitter does business. So far, however, some obstacles have been expected despite objections from some of Twitter’s own employees, as well as with users who are concerned about what this could mean for Moscow’s free speech and harassment and hate speech on the platform.

Musk, who runs the electric car company Tesla, as well as SpaceX and other ventures, said he plans to take Twitter personally. If he does, the company will no longer be with shareholders or publicly report its financial results, which has been the best mix since the company went public in 2013.

Twitter has struggled to consistently post profits as a public company at a time of inadequate revenue growth compared to Google and Facebook, two influential powers in digital advertising.

On the one hand, being personal can give Twitter more space to test while focusing less on short-term gains and its stock price. On the other hand, even the richest people in the world want the company to make money.

“I think Elon Musk for Twitter is nothing better than buying it and ideally replacing the board and doubling the investment in products and new revenue-generating sources,” John Meyer, a technology entrepreneur and investor, previously told The Associated Press. This week.

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